Packaging Corporation of America Announces 25% Dividend Increase
May 15 2018 - 5:25PM
Business Wire
Packaging Corporation of America (NYSE: PKG) announced today
that it intends to increase the quarterly cash dividend on its
common stock to an annual payout of $3.16 per share from $2.52 per
share, a 25% increase. The first quarterly dividend of $0.79 per
share will be paid on July 13, 2018 to shareholders of record as of
June 15, 2018. Future declaration of quarterly dividends and
the establishment of future record and payment dates are subject to
the final determination of PCA’s Board of Directors.
Commenting on today’s announcement, Mark W. Kowlzan, Chairman
& CEO of PCA, said, “Consistent with our balanced and
disciplined capital allocation strategy, PCA is increasing its
dividend for the seventh time in eight years. This reflects our
on-going commitment to generating value and returning cash to
shareholders.”
PCA is the fourth largest producer of containerboard products
and the third largest producer of uncoated freesheet paper in North
America. PCA operates eight mills and 94 corrugated products plants
and related facilities.
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Packaging Corporation of AmericaBarbara SessionsINVESTOR
RELATIONS: (877) 454-2509PCA’s Website: www.packagingcorp.com
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