Graphic Packaging Holding Company Announces 33% Quarterly Dividend Increase to $0.10 Per Share of Common Stock
ATLANTA, Sept. 22, 2022 /PRNewswire/ -- Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), announced today that its Board of Directors voted to increase the quarterly dividend to $0.10 per share of common stock, a 33% increase from the prior quarterly dividend of $0.075. The dividend is payable on January 5, 2023, to common stockholders of record at the close of business on December 15, 2022.
The Company initiated a dividend program in February 2015 as part of a capital allocation plan that also included a $250 million share repurchase program. The Board of Directors declared one additional dividend increase from the original $0.05 per share quarterly dividend in October 2016.
Michael Doss, the Company's President and CEO said, "Strategic investments and operational execution by our teams has allowed us to continue to meet higher demand for fiber-based consumer packaging. Our low-cost production platform positions us uniquely to capture profitable growth and earn solid returns for stakeholders. With the progress to date achieving our Vision 2025 goals, the Board of Directors has approved a 33% increase to our quarterly dividend. We will continue to execute a balanced approach to capital allocation investing for future growth while returning capital to stockholders."
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is committed to providing consumer packaging that makes a world of difference. The Company is a leading provider of sustainable fiber-based packaging solutions to the world's most widely-recognized food, beverage, foodservice and other consumer products companies and brands. The Company operates on a global basis, is one of the largest producers of folding cartons and fiber-based foodservice products in the United States and Europe, and holds leading market positions in coated recycled paperboard, coated unbleached kraft paperboard and solid bleached sulfate paperboard. Additional information about Graphic Packaging, its business and its products is available at www.graphicpkg.com.
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SOURCE Graphic Packaging Holding Company
Released September 22, 2022