Item 5. Market for Registrant’s Common Equity
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
(c) As of January 31, 2026, we had 2,490 record holders of our common stock.
Our common stock is traded on the NYSE under the “OLN” ticker symbol.
A dividend of $0.20 per common share was paid during each of the four quarters in 2025 and 2024.
The payment of future cash dividends is subject to the discretion of our Board of Directors and will be determined in light of then current conditions, including our earnings, our operations, our financial condition, our capital requirements, and other factors deemed relevant by our Board of Directors. In the future, our Board of Directors may change our dividend policy, including the frequency or amount of any dividend, in light of then existing conditions.
Issuer Purchases of Equity Securities
Period Total Number of Shares (or Units) Purchased (1)
Average Price Paid per Share (or Unit) (2)
Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs Maximum Dollar Value of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs (1)
October 1-31, 2025 — $ — — $ 1,958,907,308
November 1-30, 2025 514,074 19.47 514,074 1,948,897,034
December 1-31, 2025 — — — 1,948,897,034
Total $ 1,948,897,034
(1) On December 11, 2024, our Board of Directors authorized a share repurchase program for the purchase of shares of common stock at an aggregate price of up to $1.3 billion (the 2024 Repurchase Authorization). This program will terminate upon the purchase of $1.3 billion of common stock. On July 28, 2022, our Board of Directors authorized a share repurchase program for the purchase of shares of common stock at an aggregate price of up to $2.0 billion (the 2022 Repurchase Authorization). This program will terminate upon the purchase of $2.0 billion of common stock. Through December 31, 2025, 27,364,471 shares of common stock had been repurchased and retired at a total value of $1,351.1 million and $648.9 million and $1.3 billion of common stock remained available for purchase under the 2022 and 2024 Repurchase Authorization programs, respectively.
(2) Average price paid per share includes transaction costs including commissions and fees paid to acquire the shares and excludes costs associated with 1% excise tax on the fair market value of stock repurchases.
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Performance Graph
This graph compares the total shareholder return on our common stock with the cumulative total return of the Standard & Poor’s (S&P) 500 Index, S&P 500 Chemicals Index and S&P Composite 1500 Commodity Chemicals Index.
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN
Among Olin Corporation, the S&P 500 Index,
S&P 500 Chemicals Index and the S&P Composite 1500 Commodity Chemicals Index
2020 2021 2022 2023 2024 2025
Olin Corporation 100 239 223 230 147 94
S&P 500 Index 100 129 105 133 166 196
S&P 500 Chemicals Index 100 126 112 124 124 122
S&P Composite 1500 Commodity Chemicals Index 100 117 110 128 104 69
Data is for the five-year period from December 31, 2020, through December 31, 2025. The cumulative return includes reinvestment of dividends. The performance graph assumes an investment of $100 on December 31, 2020.
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FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
2025 2024 2023 2022 2021
Operations ($ and shares in millions, except otherwise noted)
Sales $ 6,780.8 $ 6,540.1 $ 6,833.0 $ 9,376.2 $ 8,910.6
Cost of goods sold 6,279.3 5,802.6 5,667.5 7,194.3 6,616.4
Selling and administrative 463.3 408.5 406.7 393.9 416.9
Restructuring charges 33.4 33.3 89.6 25.3 27.9
Other operating income 0.5 0.8 42.9 16.3 1.4
Losses of non-consolidated affiliates (3.1) — — — —
Interest expense (188.3) (184.5) (181.1) (143.9) (348.0)
Interest income and other income 4.4 3.7 4.3 2.2 0.2
Non-operating pension income 20.6 26.0 24.0 38.7 35.7
Income (loss) before taxes (161.1) 141.7 559.3 1,676.0 1,538.7
Income tax (benefit) provision (60.0) 36.7 107.3 349.1 242.0
Net (loss) income (101.1) 105.0 452.0 1,326.9 1,296.7
Net loss attributable to noncontrolling interests (0.6) (3.6) (8.2) — —
Net (loss) income attributable to Olin Corporation $ (100.5) $ 108.6 $ 460.2 $ 1,326.9 $ 1,296.7
Financial Position
Cash and cash equivalents $ 167.6 $ 175.6 $ 170.3 $ 194.0 $ 180.5
Working capital, excluding cash and cash equivalents 174.0 272.0 274.7 401.0 385.7
Property, plant and equipment, net 2,196.9 2,328.4 2,519.6 2,674.1 2,913.6
Total assets 7,325.8 7,579.1 7,713.2 8,044.2 8,517.7
Capitalization:
Short-term debt 109.7 129.0 78.8 9.7 201.1
Long-term debt 2,717.6 2,713.2 2,591.3 2,571.0 2,578.2
Shareholders’ equity 1,870.6 2,055.4 2,268.3 2,543.6 2,652.2
Total capitalization $ 4,697.9 $ 4,897.6 $ 4,938.4 $ 5,124.3 $ 5,431.5
Total debt to total capitalization (%) 60.2 58.0 54.1 50.4 51.2
Per Share Data
Net (loss) income attributable to Olin Corporation:
Basic (per share) $ (0.88) $ 0.92 $ 3.66 $ 9.16 $ 8.15
Diluted (per share) $ (0.88) $ 0.91 $ 3.57 $ 8.94 $ 7.96
Cash dividends paid per common share $ 0.80 $ 0.80 $ 0.80 $ 0.80 $ 0.80
Other
Capital expenditures $ 226.3 $ 195.1 $ 236.0 $ 236.9 $ 200.6
Depreciation and amortization 521.6 518.1 533.4 598.8 582.5
Common stock dividends paid 91.6 94.2 101.0 116.2 127.8
Repurchases of common stock 50.5 300.3 711.3 1,350.7 251.9
Current ratio 1.2 1.3 1.3 1.4 1.3
Effective tax rate (%) 37.2 25.9 19.2 20.8 15.7
Average common shares outstanding - diluted 114.6 119.5 128.8 148.5 163.0
Employees 7,849 7,676 7,326 7,780 7,750
Item 6. [RESERVED]
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