Stepan Co. Q3 EPS Flat - Quick Facts

(RTTNews) - Stepan Co. (SCL) Monday reported third-quarter earnings per share, flat with last year, in spite of higher revenues. The company also announced an increase in dividend.

For the three-month period, the company reported net income of $20.4 million, compared with $20.2 million last year. On a per share basis, earnings were flat at $0.89 per share.

Excluding deferred compensation, adjusted earnings were $21.09 million or $0.92 per share. On average, two analysts polled by Thomson Reuters expected the company to report earnings per share of $0.93 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales increased 8 percent to $475 million, from prior year's $440.9 million.

Further, the company announced a 6 percent increase in quarterly cash dividend to $0.17 per share, payable on December 13 to shareholders on record November 29. The increase brings the annual dividend rate to $0.68 per share.