Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber, announced today that its board of directors has approved a quarterly dividend of $ 0.08 per share. The dividend is a cash distribution payable to registered shareholders on April 22, 2021 at the close of business on April 8, 2021.
Tax considerations
Trinseo is a limited liability company under Luxembourg law. Under current Luxembourg tax law, distributions to shareholders on the repayment of equity or share bonuses are not subject to Luxembourg withholding tax. Distributions made by Trinseo before 2020 were equity repayments or share bonuses and were therefore not subject to Luxembourg withholding tax.
This quarterly distribution counts as dividend on the common shares and is subject to withholding tax at 15% under Luxembourg law. Trinseo will deduct this tax from the dividends paid to our shareholders and will pass this tax on to the Luxembourg tax authorities.
Certain withholding tax exemptions or reductions may apply to Shareholders based on Luxembourg tax legislation or applicable income tax treaties. Shareholders should consult their own tax advisers regarding the possibility of applying for available refunds with the Luxembourg tax authorities. Trinseo SA’s RCSL number is B153549.
The above discussion does not cover all of the tax issues that may and may not be relevant to a particular shareholder. Shareholders are strongly encouraged to consult their own tax advisor on the tax consequences of Luxembourg withholding taxes, the availability of tax treaty exemptions or benefits, or other tax considerations of U.S. federal, state, local and foreign taxes in relation to Trinseo issued Dividends or the US government for advice on purchasing, owning, and disposing of our common stock.
About Trinseo
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber with a focus on delivering innovative, sustainable, and value-adding products that are essential to our daily lives. Trinseo is committed to making a positive impact on society by working with like-minded stakeholders and supporting our customers’ sustainability goals in a variety of end markets including automotive, consumer electronics, home appliances, medical devices, packaging, shoes and carpets, paper and cardboard, building and construction, and tires. Trinseo achieved net sales of around $ 3.0 billion in 2020 with 17 production sites around the world and around 2,600 employees. More information is available at: www.trinseo.com.
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Cautionary Statement Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” including, without limitation, statements regarding plans, goals, objectives, projections, expectations, strategies, future events or performance, as well as underlying assumptions and other statements that are not statements of historical fact. Forward-looking statements can be identified by the use of words such as “expect”, “estimate”, “will”, “may” or expressions with similar meanings. Forward-looking statements reflect management’s assessment of the information currently available and are based on the Company’s current expectations and beliefs regarding the Company’s business, the timing of the proposed acquisition of the Arkema MMA and PMMA businesses (the “Acquisition”) . estimated and future operating results, business strategies, competitive position, industry environment and potential growth opportunities and cost synergies related to the acquisition, the impact of the COVID-19 pandemic, the economy and other future conditions. Specific factors that could cause future results to differ from those expressed in the forward-looking statements include, but are not limited to, risks associated with the termination or non-completion of the Acquisition; failure to meet the conditions for completing the acquisition, including those related to antitrust, works council and other regulatory approvals; the failure to obtain on reasonable terms the financing necessary to finance the acquisition and the effects of the substantial indebtedness; Costs related to the planned acquisition; the company’s ability to achieve its goals after the acquisition; the company’s ability to successfully integrate the businesses acquired or to generate expected synergies from the acquisition; the ongoing effects of the COVID-19 pandemic and the factors discussed in the Company’s annual report for the year ended December 31, 2019 filed with the Securities and Exchange Commission (“SEC”) in subsequent quarterly reports on Form 10- Q and other filings and furnishings by the Company from time to time with the SEC. Other unknown or unpredictable factors can also have a material adverse effect on Company performance. Due to these or other factors, the company’s actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements contained in this press release speak only as of the date of this press release and are not guarantees of future performance. The company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or for any other reason, unless otherwise required by law.
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contacts
Trinseo
Andy Myers
Tel .: +1 610-240-3221
Email: aemyers@trinseo.com