DOW CHEMICAL CO /DE/
For the period ended Dec 31, 2025. Filed Feb 3, 2026.
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FY2025 · Filed Feb 3, 2026
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Related Party Transactions
NOTE 24 –RELATED PARTY TRANSACTIONS
TDCC has committed to fund Dow Inc.'s dividends paid to common stockholders and share repurchases, as approved by the Board from time to time, as well as certain governance expenses. Funding is accomplished through intercompany loans. TDCC's Board of Directors reviews and determines a dividend distribution to Dow Inc. to settle the intercompany loans. The following table summarizes cash dividends TDCC declared and paid to Dow Inc. for 2025, 2024 and 2023.
| TDCC Dividends | 2025 | 2024 | 2023 |
|---|---|---|---|
| In millions | |||
| Dividends declared 1 | $1,491 | $2,578 | $2,510 |
| Cash dividends paid 2 | $1,503 | $2,485 | $2,510 |
Dividends declared for the year ended December 31, 2024 included $93 million of non-cash dividends.
Cash dividends paid for the year ended December 31, 2025 included $12 million related to the settlement of certain governance expenses.
At December 31, 2025 and 2024, TDCC's intercompany loan balance with Dow Inc. was insignificant.
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