NEW YORK — Leaders from Corteva Agriscience rang the opening bell at the New York Stock Exchange June 3 to celebrate Corteva’s separation from DowDuPont.
Corteva now is a standalone company focusing on seed and crop protection, as well as digital technology.
The company is headquartered in Wilmington, Delaware, with Global Business Centers in Indianapolis and Johnston, Iowa.
“Today marks the launch of a new kind of agriculture company, well positioned to compete and win by providing farmers the complete solution they need for sustainable, long-term growth and improved profitability,” said Jim Collins, CEO of Corteva.
The company has more than 21,000 employees and 150 research and development facilities and produces more than 65 active ingredients. Corteva has a presence in over 140 countries.
“We are on schedule on our commitment to achieve $1.2 billion in cost synergies by 2021, and we are confident in our plan to expand margins,” said Greg Friedman, executive vice president and chief financial officer of Corteva.
“Equally important, we are committed to returning significant capital to stockholders through a combination of dividends and share repurchases.”
The distribution of Corteva common stock was completed on June 1, with each DowDuPont stockholder of record receiving one share of Corteva common stock for every three shares of DowDuPont common stock held as of the close of business on May 24.
DowDuPont stockholders also will receive cash in lieu of any fractional Corteva shares.
“Companies like Corteva provide tools and solutions for farmers as we strive to maximize yields and profitability while reinforcing commitments to sustainable agriculture practices,” said Davie Stephens, president of American Soybean Association.
Lynn Chrisp, president of the National Corn Growers Association, also commended Corteva.
“We congratulate Corteva Agriscience on becoming a standalone company and look forward to our continued partnership moving forward,” he said.
“We’ve been fortunate to have their support for a number of our programs over the years and will work closely with Corteva on issues and programs important to U.S. corn farmers.”
Learn more at www.corteva.com.