Karat Packaging Board Declares Increase in Quarterly Cash Dividend

Rhea-AI Summary

Karat Packaging Inc. (Nasdaq: KRT) announces a 100% increase in its regular quarterly dividend to $0.20 per share on its common stock, reflecting positive financial performance and confidence in future earnings.

Positive

• The 100% increase in the regular quarterly dividend reflects the company's strong financial performance and confidence in future earnings, signaling stability and potential growth for investors.

Negative

• None.

CHINO, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (the “Company” or “Karat”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that its board of directors approved the payment of a regular quarterly dividend of $0.20 per share on the Company’s common stock, reflecting an increase from the previous quarterly dividend of $0.10 per share.

The dividend is payable on or about November 30, 2023, to the stockholders of record as of November 20, 2023.

About Karat Packaging Inc.

Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. The company’s eco-friendly Karat Earth® line offers quality, sustainably focused products that are made from renewable resources. Karat Packaging also offers customized solutions, including new product development and design, printing, and logistics services. To learn more about Karat Packaging, please visit the company’s website at www.karatpackaging.com.

Investor Relations and Media Contacts:
PondelWilkinson Inc.        
Judy Lin or Roger Pondel        
310-279-5980        
IR@karatpackaging.com

FAQ

What is the ticker symbol of Karat Packaging Inc.?

The ticker symbol of Karat Packaging Inc. is KRT.

What is the amount of the new quarterly dividend?

The new quarterly dividend is $0.20 per share, reflecting a 100% increase from the previous $0.10 per share.

What does the increase in dividend signify?

The increase in dividend reflects the company's positive financial performance and confidence in future earnings, potentially attracting more investors.

When is the dividend payable?

The dividend is payable on or -