SADDLE BROOK, N.J., May 21, 2001 (PRIMEZONE) -- Sealed Air Corporation (NYSE:SEE) announced today that its Board of Directors has declared the regular quarterly cash dividend of 50 cents per share payable on July 2, 2001 on the outstanding shares of the Company's Series A Convertible Preferred Stock (NYSE:SEE) to stockholders of record at the close of business on June 11, 2001. The annual rate of dividends payable on this Preferred Stock is $2 per share.
Sealed Air is engaged primarily in the manufacture and sale of a complementary line of food, protective and specialty packaging materials and systems, including such widely recognized brands as Bubble Wrap(r) air cellular cushioning, Jiffy(r) protective mailers and Cryovac(r) food packaging products. To view the Company's latest financial news online via the World Wide Web, visit http://www.cfonews.com/see.