WestRock Increases Dividend to New Annualized Rate of $1.00 Per Share

Rhea-AI Summary

WestRock Company (NYSE: WRK) declared a quarterly dividend of $0.25 per share, up $0.01 from the previous rate, representing an annualized increase of 4% or $0.04. This dividend will be paid to shareholders on November 23, 2021, with a record date of November 10, 2021. CEO David B. Sewell expressed confidence in the company's strong cash flow and commitment to sustainable dividends, noting a 25% increase since February. The company emphasizes a focus on reducing debt and maintaining future growth.

Positive

• Quarterly dividend increased by $0.01 per share, now $0.25.
• Annualized dividend increase of $0.04 per share, or 4%.
• 25% increase in dividend since February.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- WestRock Company (NYSE: WRK) today announced that its Board of Directors declared a quarterly dividend of $0.25 per share on its common stock, an increase of $0.01 per share from its previous dividend rate and representing an annualized increase of $0.04 per share, or 4%. The quarterly dividend of $0.25 per share will be paid to stockholders of record as of the close of business on November 10, 2021, and will be paid on November 23, 2021.

“Our customers are enthusiastic about the products that we bring to market, and I am confident in our ability to continue generating strong cash flows," said David B. Sewell, chief executive officer. “We are pleased with the progress that we have made in reducing debt and are well positioned for the future. Maintaining a sustainable and growing dividend remains a top priority and, with today's announcement, we have increased our dividend 25% since February.”

Cautionary Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our current expectations, beliefs, plans or forecasts. WestRock cautions readers that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. Such forward-looking statements include, but are not limited to, statements regarding, among other things, that (i) we are confident in our ability to continue generating strong cash flows, (ii) we are well positioned for the future and (iii) a sustainable and growing dividend remains a top priority. With respect to these statements, WestRock has made assumptions regarding, among other things, economic, competitive and market conditions generally; volumes and price levels of purchases by customers; competitive conditions in WestRock's businesses and possible adverse actions of their customers, competitors and suppliers. Further, WestRock's businesses are subject to a number of general risks that would affect any such forward-looking statements. These risks, and other factors that may impact management's assumptions, are more particularly described in WestRock's filings with the Securities and Exchange Commission, including Item 1A "Risk Factors" in WestRock's annual report on Form 10-K for the fiscal year ended September 30, 2020. The information contained herein speaks as of the date hereof and WestRock does not have or undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

About WestRock

WestRock (NYSE: WRK) partners with our customers to provide differentiated, sustainable paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005652/en/

Investors:

James Armstrong, 470-328-6327

Vice President, Investor Relations

james.armstrong@westrock.com

Media:

Courtney James, 470-328-6397

Senior Manager, Corporate Communications and Public Relations

courtney.james@westrock.com

Source: WestRock Company

FAQ

What is the latest dividend amount for WestRock Company (WRK)?

The latest dividend amount declared by WestRock Company is $0.25 per share.

When will WestRock's dividend be paid?

WestRock's dividend will be paid on November 23, 2021.

What is the record date for WestRock's dividend?

The record date for WestRock's dividend is November 10, 2021.

How much has WestRock increased its dividend since February?

WestRock has increased its dividend by 25% since February.