LEXINGTON, Ky., Nov. 19, 2018 /PRNewswire/ -- Valvoline
Inc. (NYSE: VVV) today announced that its board of directors
increased the quarterly cash dividend on the company's common stock
by more than 40 percent to 10.6 cents
per share.
"Valvoline's business model — which produces strong
profitability and stable earnings, combined with consistent free
cash flow generation — allows us to both invest back into the
business for growth while also returning cash to shareholders,"
said Sam Mitchell, chief executive
officer. "The significant increase in our dividend demonstrates our
continued commitment to maintaining a balanced approach to creating
shareholder value."
The dividend will be payable on Dec. 17,
2018, to shareholders of record as of the close of business
on Nov. 30, 2018.
About Valvoline™
Valvoline
Inc. (NYSE: VVV) is a leading worldwide marketer and supplier of
premium branded lubricants and automotive services, with sales in
more than 140 countries. Established in 1866, the company's
heritage spans over 150 years, during which it has developed
powerful brand recognition across multiple product and service
channels. Valvoline ranks as the No. 3 passenger car motor oil
brand in the DIY market by volume. It also operates and franchises
the No. 2 quick lube chain by number of stores in the United States with more than 1,170
Valvoline Instant Oil ChangeSM centers and the No. 3
quick lube chain by number of stores in Canada with more than 100 Great Canadian Oil
Change locations. It also markets Valvoline lubricants and
automotive chemicals, including the new Valvoline™ Modern Engine
Full Synthetic Motor Oil, which is specifically engineered to
protect against carbon build-up in Gasoline Direct Injection (GDI),
turbo and other engines manufactured since 2012; Valvoline High
Mileage with MaxLife technology motor oil for engines over 75,000
miles; Valvoline Synthetic motor oil; and Zerex™ antifreeze. To
learn more, visit www.valvoline.com.
Forward-Looking Statements
Certain statements in this
news release, other than statements of historical fact, including
estimates, projections, statements related to Valvoline's business
plans and operating results are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Valvoline has identified some of these forward-looking
statements with words such as "anticipates," "believes," "expects,"
"estimates," "is likely," "predicts," "projects," "forecasts,"
"may," "will," "should" and "intends" and the negative of these
words or other comparable terminology. These forward-looking
statements are based on Valvoline's current expectations,
estimates, projections and assumptions as of the date such
statements are made, and are subject to risks and uncertainties
that may cause results to differ materially from those expressed or
implied in the forward-looking statements. Additional information
regarding these risks and uncertainties are described in the
Company's filings with the Securities and Exchange Commission (the
"SEC"), including in the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of Valvoline's most recently filed periodic
reports on Forms 10-K and Forms 10-Q, which are available on
Valvoline's website at http://investors.valvoline.com/sec-filings
or on the SEC's website at http://sec.gov. Valvoline assumes no
obligation to update or revise these forward-looking statements for
any reason, even if new information becomes available in the
future.
™ Trademark, Valvoline or its
subsidiaries, registered in various countries
SM Service mark, Valvoline or its subsidiaries,
registered in various countries
FOR FURTHER INFORMATION:
Investor Relations:
Sean T.
Cornett
+1 (859) 357-2798
scornett@valvoline.com
Media Relations:
Valerie
Schirmer
+1 (859) 357-3235
vschirmer@valvoline.com
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SOURCE Valvoline Inc.