Bemis hikes dividend for 33rd consecutive year
Bemis will increase the quarterly dividend to $0.29 per share, marking 33 years of consecutive dividend increases.
“Today's Board authorization demonstrates continued confidence in our ability to grow and generate strong cash flow and in our commitment to expand the ways we deliver returns to our shareholders,” said William F. Austen, Bemis Company's President and Chief Executive Officer. "In alignment with our priority to increase shareholder value, we will continue to emphasize growth through organic and inorganic initiatives, while committing to utilize our excess cash to repurchase shares during the next three to five years. While maintaining our strong balance sheet, we will continue to invest our cash flow in capital projects for growth and efficiency, pay an increasing dividend, and finance acquisitions, along with these share repurchases.”
In addition, the Board of Directors has approved a 4 percent increase in the quarterly cash dividend, increasing it to 29 cents per share compared to the previous quarterly dividend of 28 cents per share. The cash dividend is payable on March 1, 2016, to shareholders of record at the close of business on February 17, 2016. This marks the 33rd consecutive year that the Company has increased its dividend payment. Bemis has been paying an annual dividend on its stock since 1922 and has been included in Standard & Poor's list of Dividend Aristocrats since 2008.
Source: Bemis Company