W.R. Grace & Co. emerged from chapter 11 bankruptcy yesterday, ending an almost 13-year saga for the Columbia, Md.-based building products and chemical maker, the Baltimore Business Journal reported today. Grace filed for chapter 11 protection in April 2001 amid a raft of asbestos-related claims against the company. Now that it has emerged from bankruptcy, Grace could institute a dividend on its common stock. Exiting bankruptcy will allow the company to return cash to shareholders, said Rich Badmington, a Grace spokesman. But the company has not made any announcement about whether it intends to launch a dividend, Badmington said. Two trusts Grace established as part of its court-approved bankruptcy reorganization plan will pay personal injury claimants and property owners in full, Grace said. The trusts will be funded by more than $4 billion in cash, stock warrants, insurance proceeds and other sources.
