Ashland to Voluntarily Add Up to $100 Million in Stock to its Pension Plan (ASH)

Posted on: Thu, 01 Oct 2009 09:25:00 EDT


Symbols: ASH
Oct 01, 2009 (SmarTrend(R) News Watch via COMTEX) --
ASH | Quote | Chart | News | PowerRating -- 10/1/2009 - Ashland Inc (NYSE:ASH) said Thursday that it will voluntarily contribute up to $100 million in common stock to its pension plan, the Ashland Hercules Pension Plan. The contribution represents less than 4% of outstanding shares, and will consist of newly issued shares. Chairman and CEO James O'Brien said, "This voluntary stock contribution will strengthen our pension plan and reduce pension expenses, while conserving cash and increasing Ashland's financial flexibility. It will also help us in meeting our objective to maintain a well-funded plan throughout the economic cycle."

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