Stockholders' Equity

6 Months Ended

Mar. 31, 2018

G. 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. As of March 31, 2018, under the current authorization, Cabot has repurchased 3,491,902 shares of its common stock and 1,508,098 shares remain available for repurchase. 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 six months of fiscal 2018 and 2017, Cabot paid cash dividends in the aggregate amount of $0.63 and $0.60, respectively, per share of common stock, with a total cost of $39 million and $38 million, respectively.

Noncontrolling Interest

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

	Six Months Ended March 31
	2018			2017
	(In millions)
Noncontrolling interests at beginning of period	$	121		$	98
Net income (loss) attributable to noncontrolling interests		20			10
Foreign currency translation adjustment attributable to noncontrolling interests, net of tax		7			(3	)
Dividends declared to noncontrolling interests		(21	)		(14	)
Contribution from noncontrolling interest		—			2
Noncontrolling interests at end of period	$	127		$	93

During the six months ended March 31, 2018, $6 million of the dividends declared to noncontrolling interests during the period were paid. During the six months ended March 31, 2017, $2 million of the dividends declared to noncontrolling interests during the period were paid.