Packaging Corporation of America (NYSE: PKG) announced today that it
intends to increase the quarterly cash dividend on its company stock to
an annual payout of $1.60 per share from $1.25 per share, a 28%
increase. The first quarterly dividend of $0.40 per share will be paid
on July 15, 2013 to shareholders of record as of June 14, 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.
Commenting on today’s announcement, Mark W. Kowlzan, Chief Executive
Officer of PCA, said, “Today’s announcement of a common stock dividend
increase reflects the overall operating and financial strength of the
company and our continuing commitment to return value to our
shareholders.”
This announcement replaces our previous release which declared our
dividend payment to shareholders of record as of June 14, 2013 prior to
this increase.
PCA is the fourth largest producer of containerboard and corrugated
packaging products in the United States with sales of $2.8 billion in
2012. PCA operates four paper mills and 71 corrugated products plants in
26 states across the country.
<div class="copyright">
Copyright Business Wire 2013
</div>