NORCROSS, Ga., Oct. 27, 2017 (GLOBE NEWSWIRE) -- WestRock Company (NYSE:WRK) today reported that its Board of Directors declared a quarterly dividend of $0.43 per share on its common stock, an increase of $0.03 per share from its previous dividend rate and representing an annualized increase of $0.12 per share, or 7.5%. The quarterly dividend of $0.43 per share will be paid to stockholders of record as of the close of business on November 10, 2017 and will be paid on November 20, 2017.
“We have increased the dividend twice since the creation of WestRock and by 15% over the past two years,” said Steve Voorhees, chief executive officer. “The increase demonstrates the Board of Directors’ continued confidence in the company’s ability to generate increasing earnings and cash flow over the long term.”
Cautionary Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our current expectations, beliefs, plans or forecasts. WestRock cautions readers that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. Such forward-looking statements include, but are not limited to, statements regarding, among other things, that our board of directors has confidence our ability to generate increasing earnings and cash flow over the long term. With respect to these statements, WestRock has made assumptions regarding, among other things, economic, competitive and market conditions generally; volumes and price levels of purchases by customers; competitive conditions in WestRock's businesses and possible adverse actions of their customers, competitors and suppliers. Further, WestRock's businesses are subject to a number of general risks that would affect any such forward-looking statements. These risks, and other factors that may impact management's assumptions, are more particularly described in WestRock's filings with the Securities and Exchange Commission, including Item 1A "Risk Factors" in WestRock's annual report on Form 10-K for the fiscal year ended September 30, 2016 and quarterly reports on Form 10-Q. The information contained herein speaks as of the date hereof and WestRock does not have or undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
About WestRock
WestRock (NYSE:WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s 45,000 team members support customers around the world from more than 300 operating and business locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.
WestRock
Investors:
Matt Tractenberg, 470-328-6327
Vice President – Head of Investor Relations
matt.tractenberg@westrock.com
John Stakel, 678-291-7901
Senior Vice President – Treasurer
john.stakel@westrock.com
Media:
John Pensec, 470-328-6397
Director, Corporate Communications
mediainquiries@westrock.com