Dow Chemical (DOW) updates is transformation progress and reiterated dividend will not be cut.
Another key point most folks are missing. The new Kuwait JV will lead to more profits for Dow with zero capex due to the new cost level for input costs. Rather than buying oil then processing it, Dow is going into business with the folks who own the oil, then selling the processed good at market prices. Liveris touches briefly on it.
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Disclosure (“none” means no position):
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