Andrew Liveris, Dow Chemical’s chief executive, told his shareholders in December that he would shepherd their quarterly stock dividend through a bitter economic downturn, just as his predecessors had done for close to a century.
“We will not break that streak,” Mr Liveris said, following an announcement that the chemicals maker would slash 11 per cent of its workforce and shutter 20 plants to weather the slowdown. “Not Dow. Not on my watch.”
