DuPont officially approves spin-off of electronics business Qnity

DuPont announced on October 15 that its board of directors has approved the previously announced plan to spin off its Electronics business into a new company, Qnity Electronics. To implement this separation, it was decided to distribute dividends proportionally to all holders of Qnity common stock.

On the same day, the Qnity board announced it will pay DuPont a cash dividend of approximately $4.122 billion. Additionally, DuPont has prepaid about $66 million in interest related to debts incurred by Qnity, and investment income generated from escrow amounts associated with these debts will also be paid to DuPont.

DuPont CEO Lori Koch stated that today's announcement marks a significant milestone toward the successful independent listing of Qnity on November 1, bringing new opportunities for the independent growth of both companies.

In May 2024, DuPont announced plans to spin off its electronics business into a standalone public company. In January this year, DuPont announced its intention to complete the electronics business spin-off by November 1, 2025. In May, the newly independent electronic materials company was named Qnity.

Information shows that Qnity will primarily consist of DuPont's existing semiconductor technologies and electronic interconnect technologies businesses, employing over 10,000 people.