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

Thu. October 01, 2009; Posted: 09:25 AM

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."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Ashland Inc (ASH) click here. Ashland Inc (ASH) has Short Term PowerRatings of 8. Details on Ashland Inc (ASH) Short Term PowerRatings is available at This Link.

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