Innospec Inc. (NasdaqGS:IOSP) will look for M&A. Patrick Williams, President and Chief Executive Officer said, "The foundation of success is innovation, customer service and teamwork across all our global businesses. Our technologies and customer partnerships are first-in-class in the end markets that we serve. We will continue to leverage and invest those strengths as we target growth and further margin improvement in 2024.

Cash flow continued to be extremely strong in the quarter and full year. After funding the upfront portion of the QGP acquisition and a 10% dividend increase, our net cash position remained over $200 million. We continue to have significant flexibility and balance sheet strength for further M&A, dividend growth and organic investment".

"Jon, I don't think it changes. The focus is still to increase the dividend that we -- as we continue to do, focus on organic growth as the markets rebound, and we're starting to see that and additionally, continue to look at M&A that fit our portfolio. We made a really nice acquisition in South America.

We think there's a few of those out there that really fit us from a geographic standpoint, or a product portfolio and we'll continue to look at those acquisitions as we move forward".