Solutia Initiates Quarterly Dividend, Projects Rise In 2012 Earnings

Solutia Inc (NYSE: SOA) reported that its board authorized a first dividend, and projected a 10% to 15% increase in 2012 earnings.

Solutia will pay a quarterly dividend of 3.75 cents per share in March.

Solutia also expects 2012 adjusted earnings of $2.00 to $2.30 per share, versus analysts' estimates of $2.24 per share.

Solutia projects 2012 revenue of $2.12 to $2.27 billion, versus analysts' estimates of $2.23 billion.

Solutia shares fell 0.80% to close at $14.89 yesterday.