The Dow Chemical Company (NYSE: DOW), has declared a dividend of 15 cents per share, payable April 30, 2009, to shareholders of record on March 31, 2009.

In its decision to reduce Dow's quarterly dividend, the Company's Board of Directors cited a confluence of factors, including uncertainty in the credit markets, unprecedented lower demand for chemical products, the ongoing global recession and pending business issues.

This is the 390th consecutive cash dividend issued by Dow. Since 1912, Dow has paid its shareholders cash dividends every quarter.

About Dow

With annual sales of $58 billion and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the “Human Element” to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.