(Reuters) -Industrial materials maker DuPont's ( DD ) board has approved the previously announced separation of its electronic business, Qnity Electronics, the company said on Wednesday.

Investors holding DuPont ( DD ) stock as of October 22 will receive one Qnity share for every two DuPont ( DD ) shares on November 1.

"In connection with the spinoff, Qnity's board declared a cash dividend of about $4.122 billion plus the pre-funded interest deposit of around $66 million made by DuPont ( DD ) in connection with the debt obligations," the company said.

DuPont's ( DD ) electronic segment includes semiconductor technologies and interconnect solutions.

In September, the company said it expects 2025 net sales of about $6.87 billion, recasting its prior outlook to reflect the planned spin-off of its electronics unit and the divestiture of its Aramids business.