ATLANTA, Oct. 26, 2018 (GLOBE NEWSWIRE) -- WestRock Company (NYSE: WRK) today reported that its Board of Directors declared a quarterly dividend of $0.455 per share on its common stock, an increase of $0.025 per share from its previous dividend rate and representing an annualized increase of $0.10 per share, or 5.8%. The quarterly dividend of $0.455 per share will be paid to stockholders of record as of the close of business on November 9, 2018 and will be paid on November 19, 2018.
“WestRock has returned $2.3 billion in capital to stockholders and increased our dividend by more than 20% over the last three years,” said Steve Voorhees, chief executive officer. “Today’s dividend increase demonstrates our confidence in WestRock’s ongoing ability to generate strong 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 the announced dividend increase demonstrates our confidence in our ongoing ability to generate strong cash flow. 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, 2017 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.
CONTACT:
Investors:
James Armstrong, 470-328-6327
Vice President, Investor Relations
james.armstrong@westrock.com
Media:
John Pensec, 470-328-6397
Director, Corporate Communications
john.pensec@westrock.com
John Stakel, 678-291-7901
Senior Vice President, Treasurer
john.stakel@westrock.com