Ashland Inc declares USD100m voluntary stock contribution in aid of pension plan
Fri. October 02, 2009; Posted: 05:18 AM
Oct 02, 2009 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- Chemical products company Ashland Inc (NYSE:ASH) said on Thursday that
the company has proposed a voluntary contribution of up to USD100m of
its common stock in aid of its qualified defined benefit pension plan,
the Ashland Hercules Pension Plan.
This contribution, which will represent less than 5% of total pension
plan assets and less than 4% of total shares outstanding, will consist
of newly issued company shares.
The contribution, which will be managed by an independent fiduciary on
behalf of plan participants, will be fully tax-deductible and is
expected to be made in early November.
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