Fuel Specialties Growth
Fuel Specialties had another strong quarter with double-digit operating income growth, 14% increase from the previous year, and improved margins by 2 percentage points to 35.6%.
Cash and No Debt
Innospec closed the quarter with $270.8 million in cash and cash equivalents and no debt, providing significant balance sheet flexibility for M&A, dividend growth, organic investment, and buybacks.
Dividend Increase
The Board approved a further 10% increase in the semiannual dividend to $0.87 per share.