Greif, Inc. Declares Increased Third Quarter 2021 Dividends

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B) announced on August 31, 2021, an increase in quarterly cash dividends: $0.46 per share for Class A Common Stock and $0.69 for Class B Common Stock, marking a 4.5% increase from the previous year. The dividends, reflecting the Board's confidence in the company's financial strength, are payable on October 1, 2021, for shareholders of record by September 17, 2021. Greif emphasizes dividends as a key component of shareholder returns and plans further evaluations for increases as debt levels decrease.

Positive

• Quarterly dividend increase of 4.5% reflects financial strength.
• Dividend of $0.46 for Class A and $0.69 for Class B stock enhances shareholder returns.

Negative

• None.

DELAWARE, Ohio, Aug. 31, 2021 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that its Board of Directors has declared increased quarterly cash dividends of $0.46 per share on its Class A Common Stock and $0.69 per share on its Class B Common Stock. This dividend declaration represents a 4.5% per share increase from the fiscal second quarter 2021 and versus fiscal third quarter 2020.

"We are pleased that our Board of Directors approved this action," said Larry Hilsheimer, Greif's Executive Vice President and Chief Financial Officer. "The increased dividend is a reflection of the Board's confidence in Greif's financial strength and is an example of our continued commitment to returning capital to shareholders."

Greif, Inc. considers dividends an important component of shareholder returns and previously indicated that the Company would evaluate further increases of its dividend as debt balances decline. This quarter's dividends are payable on October 1, 2021, to shareholders of record at the close of business on September 17, 2021.

About Greif, Inc.
Greif is a global leader in industrial packaging products and services and is pursuing its vision: In industrial packaging, be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides filling, packaging and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company is strategically positioned in over 40 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "may," "will," "would", "expect," "intend," "estimate," "anticipate," "aspiration," "objective," "project," "believe," "continue," "on track" or "target" or the negative thereof and similar expressions, among others, identify forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements have a reasonable basis, the Company can give no assurance that these expectations will prove to be correct. All forward-looking statements are based on assumptions, expectations and other information currently available to management. Such forward-looking statements are subject to certain risks and uncertainties that could cause the Company's actual results to differ materially from those forecasted, projected or anticipated, whether expressed or implied. The most significant of these risks and uncertainties are described in Part I of the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2020. The Company undertakes no obligation to update or revise any forward-looking statements.

Contact:
Matt Eichmann
740-549-6067
matt.eichmann@greif.com

 

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SOURCE Greif, Inc.

FAQ

What is the new dividend amount for Greif (GEF, GEF.B)?

The new dividend amount is $0.46 per share for Class A Common Stock and $0.69 per share for Class B Common Stock.

When will the dividends for Greif be paid?

The dividends will be paid on October 1, 2021, to shareholders of record as of September 17, 2021.

What percentage increase does the new Greif dividend represent?

The new dividend represents a 4.5% increase compared to the fiscal second quarter of 2021.