NOT FOR DISTRIBUTION IN THE U.S.A. OR OVER U.S. WIRE SERVICES
MISSISSAUGA, Ontario, Aug. 13, 2024 (GLOBE NEWSWIRE) -- KP Tissue Inc. (“KPT”) (TSX: KPT) announced today that the Board of Directors has declared a quarterly dividend of $0.18 per common share, payable on October 15, 2024 to shareholders of record at the close of business on September 30, 2024, subject to applicable law.
The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
The dividend is being declared in connection with the declaration of a corresponding quarterly distribution by Kruger Products in which KP Tissue holds a limited partnership interest.
Dividend Reinvestment Plan
The Corporation has a Dividend Reinvestment Plan under which eligible shareholders may elect to have their cash dividends reinvested in additional common shares of KPT. Under the Plan, the Corporation will automatically reinvest for participating shareholders the cash dividends of KPT in newly issued Common Shares at a price per Common Share equal to 100% of the 5-day weighted average trading price of the Common Shares prior to the dividend payment date.
Only Canadian shareholders are eligible to participate in the DRIP and the DRIP is subject to additional limitations and restrictions. Interested shareholders are encouraged to review the full text of the DRIP, available on KPT’s website at www.kptissueinc.com.
Shareholders who wish to participate in the DRIP should contact their broker, financial institution, or other nominee through which their Common Shares are held to determine their eligibility and provide appropriate enrolment instructions, and to ensure any deadlines or other requirements that such broker, financial institution, or nominee may impose or be subject to are met.
About KP Tissue Inc. (KPT)
KPT was created to acquire, and its business is limited to holding, a limited equity interest in Kruger Products, which is accounted for as an investment on the equity basis. KPT currently holds a 12.7% interest in Kruger Products. For more information visit www.kptissueinc.com.
About Kruger Products
Kruger Products is Canada's leading manufacturer of quality tissue products for household, industrial and commercial use. Kruger Products serves the Canadian consumer market with such well-known brands as Cashmere®, Purex®, SpongeTowels®, Scotties®, White Swan® and BonterraTM. In the U.S., Kruger Products manufactures the White Cloud® brand, as well as many private label products. The Away-From-Home division manufactures and distributes high-quality, cost-effective product solutions to a wide range of commercial and public entities. Kruger Products has approximately 2,800 employees and operates nine FSC® COC-certified (FSC® C-104904) production facilities in North America. For more information visit www.krugerproducts.ca.
INFORMATION:
François Paroyan
General Counsel and Corporate Secretary
KP Tissue Inc.
Tel.: 905.812.6936
Francois.Paroyan@krugerproducts.ca
INVESTORS:
Mike Baldesarra
Director of Investor Relations
KP Tissue Inc.
Tel.: 905.812.6962
IR@kptissueinc.com
SOURCE KP Tissue Inc
