Mark
Kowlzan
Packaging Corporation of America announced it intends to increase the quarterly cash dividend on its common stock ton an annual payout of $2.20 per share from $1.60 per share, at 38 percent increase.
The first quarterly dividend of 55 cents per share will be paid on April 15 to shareholders of record as of March 13. 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.
“This announcement marks the fifth time in the past five years that PCA has increased the dividend on its common stock,” PCA CEO Mark Kowlzan said in a release. “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 U.S. 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.
Mark
Kowlzan
