News Release

April 12, 2012 04:03 PM Eastern Time

Dow Board of Directors Declares 28 Percent Dividend Increase
from 25 Cents Per Share to 32 Cents Per Share for the Second Quarter

MIDLAND, Mich.--(BUSINESS WIRE)--The Dow Chemical Company (NYSE: DOW) announced today that its Board of Directors has declared a 28 percent increase in the second quarter dividend, from $0.25 per share to $0.32 per share.

“This increase demonstrates our Board’s commitment to pursue a dividend policy that is reflective of a growth company long-term, and deploy cash against our three stated priorities – shareholder remuneration, debt paydown and organic investments in our portfolio,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “Looking ahead, we are confident in our ability to continue to achieve higher and more sustainable earnings, and today’s announcement demonstrates our commitment to increasingly reward shareholders as we grow.”

The dividend will be payable on July 30, 2012 to shareholders of record on June 29, 2012. This will mark the 403th consecutive cash dividend issued by the Company. Dow has paid its shareholders cash dividends every quarter since 1912.

About Dow

Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company's more than 5,000 products are manufactured at 197 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

Note: The forward-looking statements contained in this document involve risks and uncertainties that may affect the Company’s operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company’s expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.