Packaging Corporation of America Announces 15% Dividend Increase

Packaging Corporation of America announced that it intends to increase the quarterly cash dividend on its common stock to an annual payout of $2.52 per share from $2.20 per share, a 15% increase. The first quarterly dividend of $0.63 per share will be paid on Oct. 14, 2016 to shareholders of record as of Sept. 15, 2016. 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.
 
“This announcement marks the sixth time in the last six years that PCA has increased the dividend on its common stock,” Mark W. Kowlzan, CEO of PCA, said. “This reflects PCA’s on-going commitment to generating value and returning cash to shareholders.”