Packaging Corporation of America (NYSE: PKG) announced today that it
intends to increase the quarterly cash dividend on its company stock
from an annual payout of $1.00 per share to $1.25 per share. The first
quarterly dividend of $0.3125 per share will be paid on April 15, 2013
to shareholders of record as of March 15, 2013. 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.
PCA is the fourth largest producer of containerboard and corrugated
packaging products in the United States with sales of $2.6 billion in
2011. PCA operates four paper mills and 71 corrugated product plants in
26 states across the country.
Some of the statements in this press release are forward-looking
statements. These forward-looking statements include statements
about our future dividend policy. Statements that contain words
such as “ will”, “should”, “anticipate”, “believe”, “expect”, “intend”,
“estimate”, “hope” or similar expressions, are forward-looking
statements. These forward-looking statements are based on the
current expectations of PCA. Because forward-looking statements
involve inherent risks and uncertainties, the plans, actions and actual
results of PCA could differ materially. Among the factors that
could cause plans, actions and results to differ materially from PCA’s
current expectations include the following: the impact of general
economic conditions; containerboard and corrugated products general
industry conditions, including competition, product demand and product
pricing; fluctuations in wood fiber and recycled fiber costs;
fluctuations in purchased energy costs; and legislative or regulatory
requirements, particularly concerning environmental matters, as well as
those identified under Item 1A. Risk Factors in PCA’s Annual
Report on Form 10-K for the year ended December 31, 2011 filed with the
Securities and Exchange Commission and available at the SEC’s website at
“www.sec.gov”.
