DowDuPont: 1 spinoff down, 1 to go

Article Excerpt

DOWDUPONT INC. $39 (New York symbol DWDP; Manufacturing sector; Shares outstanding: 2.3 billion; Market cap: $89.7 billion; Takeover Target Rating: Lowest; Dividend yield: 4.2%; www.dow-dupont.com) began trading on September 1, 2017, following the merger of Dow Chemical and DuPont. The combined firm then became the world’s second-largest maker of chemicals. DowDuPont is now splitting into three separate publicly traded firms—Materials Science (62% of total revenue); Specialty Products (28%); and Agriculture (10%). To start that process, on April 1, 2019, the company completed the spinoff of its Materials Science operations as DOW INC. $59 (New York symbol DOW; Manufacturing sector; Shares outstanding: 748.8 million; Market cap: $44.2 billion; Takeover Target Rating: Medium; Dividend yield: 4.7%; www.dow.com). Dow Inc.: Operates 113 manufacturing plants in 31 countries Aims to pay out 45% of its earnings as dividends Corteva Inc.: Is the world’s second-largest producer of seeds (after Bayer) Shareholders received one DOW share for every three DWDP shares they held. They’ll only pay capital gains taxes on those new shares when they sell them. Using…