Stepan Declares Quarterly Dividend and Approves Share Repurchase Authorization

NORTHFIELD, Ill., Feb. 11  /PRNewswire-FirstCall/ -- The Board of Directors of Stepan Company declared a quarterly cash dividend on its common stock of $0.2200 per share.  The dividend is payable on March 13, 2009, to common stockholders of record on February 27, 2009.

As previously announced, the Board of Directors also declared a quarterly cash dividend on its five and one half (5.5%) percent convertible preferred stock at the quarterly rate of $0.34375 per share.  Dividends are payable on February 27, 2009, to preferred stockholders of record on February 13, 2009.

The Board of Directors also authorized the Company to repurchase up to 500,000 shares of its outstanding common stock, or the equivalent in Stepan preferred stock.  This repurchase authorization replaces the 300,000 share authorization approved on February 10, 2004, of which the remaining unutilized repurchase authorization of 111,256 shares is cancelled.  The Company will repurchase shares from time to time for cash in open market or private transactions in accordance with applicable securities and stock exchange rules.  The repurchase authorization represents approximately 4.6 percent of the Company's total shares of common stock outstanding.  The timing and amount of the repurchases will be determined by the Company's Management based on their evaluation of market conditions and share price.

"The share repurchase authorization demonstrates our confidence in Stepan's growth and commitment to promote long-term shareholder value," said F. Quinn Stepan, Jr., President and Chief Executive Officer.

Stepan Company, headquartered in Northfield, Illinois, is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation-related products. The common and preferred stocks are traded on the New York and Chicago Stock Exchanges under the symbol SCL and SCLPR.

CONTACT:  JAMES E. HURLBUTT,

[phone] 

DATASOURCE: Stepan Company



CONTACT:  JAMES E. HURLBUTT, [phone]

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