Stepan Company (NYSE:SCL) will look for M&A opportunities. During the company?s fourth quarter and full year 2023 earnings conference call, Mr. Scott Behrens, President and Chief Executive Officer said that ?During the fourth quarter of 2023, the company paid $8.4 million in dividends to shareholders and $33 million in dividends to shareholders for the full year. The Company did not repurchase any Company stock during the year and has $125.1 million remaining under the share repurchase program authorized by the Board of Directors.

We remain confident in the strength and diversity of our business and its ability to generate cash that will allow us to invest in our current business, pursue strategic M&A opportunities and return cash to our shareholders?.