HUNTSMAN CORPORATION STOCKHOLDERS’ EQUITY
|12 Months Ended|
Dec. 31, 2017
|HUNTSMAN CORPORATION STOCKHOLDERS’ EQUITY|
|HUNTSMAN CORPORATION STOCKHOLDERS’ EQUITY||
20. HUNTSMAN CORPORATION STOCKHOLDERS’ EQUITY
Share Repurchase Program
On September 29, 2015, our Board of Directors authorized our Company to repurchase up to $150 million in shares of our common stock. Repurchases under this program may be made through open market transactions, in privately negotiated transactions, accelerated share repurchase programs or by other means. The timing and actual number of any shares repurchased depends on a variety of factors, including market conditions. The share repurchase authorization does not have an expiration date and repurchases may be commenced, suspended or discontinued from time to time without prior notice. On October 27, 2015, we entered into and funded an accelerated share repurchase agreement with Citibank, N.A. to repurchase $100 million of our common stock. Citibank, N.A. made an initial delivery of approximately 7.1 million shares of Huntsman Corporation common stock based on the closing price of $11.94 on October 27, 2015. The accelerated share repurchase agreement was completed in January 2016 with the delivery of an additional approximately 1.5 million shares of Huntsman Corporation common stock. The final number of shares repurchased and the aggregate cost per share was based on the Company’s daily volume-weighted average stock price during the term of the transaction, less a discount. As of December 31, 2017, we had $50 million remaining under this authorization to be used to purchase additional shares. On February 7, 2018, our Board of Directors authorized our Company to repurchase up to an additional $400 million in shares of our common stock. Repurchases may be made through the open market or in privately negotiated transactions, and repurchases may be commenced or suspended from time to time without prior notice. Shares of common stock acquired through the repurchase program are held in treasury at cost.
Dividends on Common Stock
The following tables represent dividends on common stock for our Company for the years ended December 31, 2017 and 2016 (dollars in millions, except per share payment amounts):
On February 7, 2018, the Board of Directors approved an increase to the quarterly cash dividend to $0.6125 per share of common stock beginning with the March 30, 2018 quarterly dividend.
The entire disclosure for accounts comprising shareholders' equity, excluding disclosures pertaining to comprehensive income.
No definition available.