LAKE FOREST, Ill.--(BUSINESS WIRE)--May 15, 2018--
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 $3.16 per share from $2.52 per share, a 25%
increase. The first quarterly dividend of $0.79 per share will be paid
on July 13, 2018 to shareholders of record as of June 15, 2018. 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, Chairman & CEO of
PCA, said, “Consistent with our balanced and disciplined capital
allocation strategy, PCA is increasing its dividend for the seventh time
in eight years. This reflects our on-going commitment to generating
value and returning cash to shareholders.”
PCA is the fourth largest producer of containerboard products and the
third largest producer of uncoated freesheet paper in North America. PCA
operates eight mills and 94 corrugated products plants and related
facilities.
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Source: Packaging Corporation of America
Packaging Corporation of America
Barbara Sessions
INVESTOR
RELATIONS: (877) 454-2509
PCA’s Website: www.packagingcorp.com