Packaging Corp. of America’s first-quarter profit soared 95 percent on higher containerboard and corrugated product pricing and volume, offsetting weather-related impacts and higher costs for transportation, chemicals and other expenses. Get the full story »
Packaging Corp.
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Packaging Corp. to raise quarterly dividend
Packaging Corp. of America on Tuesday said it plans to raise its quarterly dividend a third and bolstered its share repurchase program by $100 million.
The popularity of dividends and share buybacks have increase as companies seek to appeal to investors and tap cash piles they needn’t conserve as much in an improving economy.
Packaging Corp. said it will increase its quarterly dividend to 20 cents a share from 15 cents, costing roughly $5 million each quarter. The paper packaging company board also increased its repurchase authorization by $100 million, with the buybacks expected to come in the next year and a half. Get the full story »
