Packaging Corporation of America Announces 25% Dividend Increase

Rhea-AI Summary

Packaging Corporation of America (NYSE: PKG) has announced a 25% increase in its quarterly cash dividend, raising it to $5.00 annually from $4.00. The first quarterly dividend of $1.25 per share will be distributed to shareholders of record as of June 15, 2022, with a payment date of July 15, 2022. This increase reflects PCA's strong operational and financial position, emphasizing its commitment to shareholder value.

Positive

• Quarterly cash dividend increased to $5.00 annually, a 25% rise.
• First payment of $1.25 per share to enhance shareholder income.

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• None.

LAKE FOREST, Ill.--(BUSINESS WIRE)-- 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 $5.00 per share from $4.00 per share, a 25% increase. The first quarterly dividend of $1.25 per share will be paid to shareholders of record as of June 15, 2022 with a payment date of July 15, 2022. Future declaration of quarterly dividends and the establishment of future record and payment dates are subject to the final determination by PCA’s Board of Directors.

Commenting on today’s announcement, Mark W. Kowlzan, Chairman & CEO of PCA, said, “Today’s announcement of an increase in our dividend demonstrates PCA’s overall operational and financial strength, as well as our disciplined and balanced approach to capital allocation. We are committed to generating value for our shareholders.”

PCA is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America. PCA operates eight paper mills and 90 corrugated products plants and related facilities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220518006018/en/

Barbara Sessions

Packaging Corporation of America

INVESTOR RELATIONS: (877) 454-2509

PCA Web Site: www.packagingcorp.com

Source: Packaging Corporation of America

FAQ

What is the new dividend amount for Packaging Corporation of America (PKG)?

The new dividend amount is $5.00 per share annually.

When will the first dividend payment be made for PKG?

The first dividend payment will be made on July 15, 2022.

Who are the shareholders eligible for the upcoming dividend of PKG?

Shareholders of record as of June 15, 2022, will be eligible.

How much has the dividend increased for PKG?

The dividend has increased by 25%.