WestRock Increases Dividend to New Annualized Rate of $1.00 Per Share
October 28 2021 - 8:16AM
Business Wire
WestRock Company (NYSE: WRK) today announced that its Board of
Directors declared a quarterly dividend of $0.25 per share on its
common stock, an increase of $0.01 per share from its previous
dividend rate and representing an annualized increase of $0.04 per
share, or 4%. The quarterly dividend of $0.25 per share will be
paid to stockholders of record as of the close of business on
November 10, 2021, and will be paid on November 23, 2021.
“Our customers are enthusiastic about the products that we bring
to market, and I am confident in our ability to continue generating
strong cash flows," said David B. Sewell, chief executive officer.
“We are pleased with the progress that we have made in reducing
debt and are well positioned for the future. Maintaining a
sustainable and growing dividend remains a top priority and, with
today's announcement, we have increased our dividend 25% since
February.”
Cautionary Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on our current expectations,
beliefs, plans or forecasts. WestRock cautions readers that a
forward-looking statement is not a guarantee of future performance
and that actual results could differ materially from those
contained in the forward-looking statement. Such forward-looking
statements include, but are not limited to, statements regarding,
among other things, that (i) we are confident in our ability to
continue generating strong cash flows, (ii) we are well positioned
for the future and (iii) a sustainable and growing dividend remains
a top priority. With respect to these statements, WestRock has made
assumptions regarding, among other things, economic, competitive
and market conditions generally; volumes and price levels of
purchases by customers; competitive conditions in WestRock's
businesses and possible adverse actions of their customers,
competitors and suppliers. Further, WestRock's businesses are
subject to a number of general risks that would affect any such
forward-looking statements. These risks, and other factors that may
impact management's assumptions, are more particularly described in
WestRock's filings with the Securities and Exchange Commission,
including Item 1A "Risk Factors" in WestRock's annual report on
Form 10-K for the fiscal year ended September 30, 2020. The
information contained herein speaks as of the date hereof and
WestRock does not have or undertake any obligation to update or
revise its forward-looking statements, whether as a result of new
information, future events or otherwise.
About WestRock
WestRock (NYSE: WRK) partners with our customers to provide
differentiated, sustainable paper and packaging solutions that help
them win in the marketplace. WestRock’s team members support
customers around the world from locations spanning North America,
South America, Europe, Asia and Australia. Learn more at
www.westrock.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211028005652/en/
Investors: James Armstrong, 470-328-6327 Vice President,
Investor Relations james.armstrong@westrock.com
Media: Courtney James, 470-328-6397 Senior Manager,
Corporate Communications and Public Relations
courtney.james@westrock.com
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