NEW YORK (MarketWatch) -- Dow Chemical Co. DOW, -1.91% will not suspend or reduce its dividend despite the troubled economic environment, said Chairman and Chief Executive Andrew Liveris during a Monday conference call with analysts. "Dow is the only company in the Fortune 200 to have paid its regular quarterly cash dividend without reduction or interruption since 1912," Liveris said. "I have said it before, but I want to say it again: We will not break that streak." Earlier, the Midland, Mich., company said it would lay off 11% of its global workforce, idle 180 plants and close 20 facilities in "high-cost locations." Further, the company intends to reduce its contractor workforce by about 6,000. Shares of Dow were up 3% in premarket trading to $19.59.