DowDuPont board approves Corteva distribution
DowDuPont announced that its Board of Directors has approved the previously announced separation of DowDuPont's Agriculture Division, which will become Corteva Agriscience on June 1. To effect the separation, the DowDuPont Board of Directors declared a pro rata dividend of all of the outstanding shares of common stock of Corteva. The dividend is expected to be paid on June 1 to DowDuPont stockholders of record as of the close of business on May 24, the record date. Effective as of the distribution date, each DowDuPont stockholder will receive one share of Corteva common stock for every three shares of DowDuPont common stock they held on the record date. Registered DowDuPont stockholders will receive cash in lieu of any fractional shares of Corteva common stock.