Packaging Corporation of America Announces 38% Dividend Increase
February 26 2015 - 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 $2.20 per share from $1.60 per
share, a 38% increase. The first quarterly dividend of $0.55 per
share will be paid on April 15, 2015 to shareholders of record as
of March 13, 2015. 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, Chief
Executive Officer of PCA, said, “This announcement marks the fifth
time in the last five years that PCA has increased the dividend on
its common stock. This reflects PCA’s commitment to generating
value and returning cash to shareholders.”
PCA is the fourth largest producer of containerboard and
corrugated packaging products in the United States and the third
largest producer of uncoated freesheet paper in North America. PCA
operates eight paper mills and 99 corrugated products plants and
related facilities.
Packaging Corporation of AmericaBarbara SessionsINVESTOR
RELATIONS: (877) 454-2509PCA Web Site: www.packagingcorp.com
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