Stockholders' Equity

9 Months Ended

Jun. 30, 2017

Equity [Abstract]

Stockholders' Equity

E. Stockholders’ Equity

In January 2015, the Board of Directors authorized Cabot to repurchase up to five million shares of its common stock in the open market or in privately negotiated transactions. Cabot has repurchased 2,934,176 shares of its common stock under this authorization. As of June 30, 2017, 2,065,824 shares remain available for repurchase under the current authorization. The Company retired the repurchased shares and recorded the excess of the purchase price over par value to additional paid-in capital until such amount was reduced to zero and then charged the remainder against retained earnings.

During the first nine months of fiscal 2017 and 2016, Cabot paid cash dividends in the aggregate amount of $0.915 and $0.74, respectively, per share of common stock, with a total cost of $57 million and $47 million, respectively.

Noncontrolling interest

The following table illustrates the noncontrolling interest activity for the periods presented:

	2017			2016
	(In millions)
Balance at September 30	$	98		$	104
Net income (loss) attributable to noncontrolling interests		18			12
Foreign currency translation adjustment attributable to    noncontrolling interests, net of tax		—			(5	)
Dividends declared to noncontrolling interests		(14	)		(16	)
Contribution from noncontrolling interest		2			—
Balance at June 30	$	104		$	95

During the nine months ended June 30, 2017, $14 million of dividends were declared to noncontrolling interests, $13 million of which were paid during the period. During the nine months ended June 30, 2016, $16 million of dividends were declared to noncontrolling interests, all of which were paid during the period.