PCA announces 25% increase in dividend
US producer of corrugated packaging and container board, Packaging Corporation of America (PCA) has increased its quarterly cash dividend by 25% to 25 cents per share. PCA said the first quarterly dividend of $0.25 per share will be paid on 13 April 2012 to shareholders of record as of 15 March 2012.
Packaging Corporation of America CEO Mark Kowlzan said that the dividend increase and the $150m share repurchase authorization announced in December, reflects the company's commitment to return value to shareholders.
Future declaration of quarterly dividends, and the establishment of future record and payment dates are subject to the final determination of PCA's Board of Directors.
The company which operates four paper mills and 71 corrugated product plants in 26 US states reported sales of $2.6bn in 2011.
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