Welcome to our dedicated page for Karat Packaging news (Ticker: $KRT), a resource for investors and traders seeking the latest updates and insights on Karat Packaging stock.
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Karat Packaging Inc. (Nasdaq: KRT) reported its 2024 first-quarter financial results, showcasing a mixture of positive and negative aspects. Despite a slight decrease in net sales and gross profit, the company remains optimistic about its growth prospects, with an expanding eco-friendly product line and new distribution center in Arizona. The company's adjusted EBITDA and net income saw a decline in comparison to the prior year, with an increase in operating expenses being a notable factor. Karat also announced an increase in its quarterly cash dividend. Overall, Karat Packaging is focusing on strategic growth initiatives and maintaining a strong gross margin amidst various challenges.
Karat Packaging Inc. announced an increase in its quarterly cash dividend, with the approval of a payment of $0.35 per share on the Company's common stock, up from the previous $0.30 per share. The dividend will be payable on or about May 24, 2024, to stockholders of record as of May 17, 2024.