Ashland Global Holdings (ASH) will raise its quarterly dividend by 11.1 percent $0.25 per share in the second quarter of 2018. This marks the first dividend hike for the specialty chemicals company since the separation of Valvoline (VVV).

The dividend is payable June 15, 2018, to stockholders of record at the close of business on June 1, 2018. The new dividend yield for ASH is 1.2% based on the current stock price of $77.25. Annually the company now pays a dividend of $56 million.

Ashland Global Holdings Inc. is a premier global specialty chemicals company serving customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Ashland's board of directors has declared a dividend every quarter since December 1936.