LAKE FOREST, Ill.--(BUSINESS WIRE)--Aug. 31, 2016--
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 $2.52 per share from $2.20 per share, a 15%
increase. The first quarterly dividend of $0.63 per share will be paid
on October 14, 2016 to shareholders of record as of September 15, 2016.
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 sixth time in the
last six years that PCA has increased the dividend on its common stock.
This reflects PCA’s on-going 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 mills
and 96 corrugated products plants and related facilities.
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Source: Packaging Corporation of America
Packaging Corporation of America
RELATIONS: (877) 454-2509
PCA’s Website: www.packagingcorp.com