KP Tissue declares a Quarterly Dividend of $0.18 per Common Share
March 07 2024 - 7:01AM
KP Tissue Inc. (“KPT”) (TSX: KPT) announced today that the Board of
Directors has declared a quarterly dividend of $0.18 per common
share, payable on April 15, 2024, to shareholders of record at the
close of business on April 1, 2024, subject to applicable law.
The dividends paid are designated as "eligible"
dividends for the purposes of the Income Tax Act (Canada) and any
similar provincial and territorial legislation.
The dividend is being declared in connection
with the declaration of a corresponding quarterly distribution by
Kruger Products in which KP Tissue holds a limited partnership
interest.
Dividend Reinvestment Plan
The Corporation has a Dividend Reinvestment Plan
under which eligible shareholders may elect to have their cash
dividends reinvested in additional common shares of KPT. Under the
Plan, the Corporation will automatically reinvest for participating
shareholders the cash dividends of KPT in newly issued Common
Shares at a price per Common Share equal to 100% of the 5-day
weighted average trading price of the Common Shares prior to the
dividend payment date.
Only Canadian shareholders are eligible to
participate in the DRIP and the DRIP is subject to additional
limitations and restrictions. Interested shareholders are
encouraged to review the full text of the DRIP, available on KPT’s
website at www.kptissueinc.com.
Shareholders who wish to participate in the DRIP
should contact their broker, financial institution, or other
nominee through which their Common Shares are held to determine
their eligibility and provide appropriate enrolment instructions,
and to ensure any deadlines or other requirements that such broker,
financial institution, or nominee may impose or be subject to are
met.
About KP Tissue Inc. KPT was
created to acquire, and its business is limited to holding, a
limited equity interest in Kruger Products, which is accounted for
as an investment on the equity basis. KPT currently holds a 12.9%
interest in Kruger Products. For more information visit
www.kptissueinc.com.
About Kruger ProductsKruger
Products is Canada's leading manufacturer of quality tissue
products for household, industrial and commercial use. Kruger
Products serves the Canadian consumer market with such well-known
brands as Cashmere®, Purex®, SpongeTowels®, Scotties®, White Swan®
and Bonterra™. In the U.S., Kruger Products manufactures the White
Cloud® brand, as well as many private label products. The
Away-From-Home division manufactures and distributes high-quality,
cost-effective product solutions to a wide range of commercial and
public entities. Kruger Products has approximately 2,800 employees
and operates nine FSC® COC-certified (FSC® C-104904) production
facilities in North America. For more information visit
www.krugerproducts.ca.
INFORMATION:François
ParoyanGeneral Counsel and Corporate SecretaryKP Tissue Inc.Tel.:
905.812.6936Francois.Paroyan@krugerproducts.ca
INVESTORS: Mike
BaldesarraDirector of Investor RelationsKP Tissue Inc.Tel.:
905.812.6962IR@kptissueinc.com
SOURCE KP Tissue Inc
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