Packaging Corporation of America Announces 27% Dividend Increase
December 10 2020 - 5:00PM
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 $4.00 per share from $3.16 per
share, a 27% increase. The first quarterly dividend of $1.00 per
share will be paid to shareholders of record as of December 21,
2020 with a payment date of January 15, 2021. Future declaration of
quarterly dividends and the establishment of future record and
payment dates are subject to the final determination by PCA’s Board
of Directors.
Commenting on today’s announcement, Mark W. Kowlzan, Chairman
& CEO of PCA, said, “Today’s announcement of an increase in our
dividend demonstrates PCA’s overall operational and financial
strength, as well as our disciplined and balanced approach to
capital allocation. We are committed to generating value for our
shareholders.”
PCA is the third largest producer of containerboard products and
the third largest producer of uncoated freesheet paper in North
America. PCA operates eight paper mills and 92 corrugated products
plants and related facilities.
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version on businesswire.com: https://www.businesswire.com/news/home/20201210006074/en/
Barbara Sessions Packaging Corporation of America INVESTOR
RELATIONS: (877) 454-2509 PCA Web Site:
www.packagingcorp.com
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