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ATLANTA, October 28, 2021--(BUSINESS WIRE)--WestRock Company (NYSE: WRK) today announced that its Board of Directors declared a quarterly dividend of $0.25 per share on its common stock, an increase of $0.01 per share from its previous dividend rate and representing an annualized increase of $0.04 per share, or 4%. The quarterly dividend of $0.25 per share will be paid to stockholders of record as of the close of business on November 10, 2021, and will be paid on November 23, 2021.
"Our customers are enthusiastic about the products that we bring to market, and I am confident in our ability to continue generating strong cash flows," said David B. Sewell, chief executive officer. "We are pleased with the progress that we have made in reducing debt and are well positioned for the future. Maintaining a sustainable and growing dividend remains a top priority and, with today's announcement, we have increased our dividend 25% since February."
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 (i) we are confident in our ability to continue generating strong cash flows, (ii) we are well positioned for the future and (iii) a sustainable and growing dividend remains a top priority. 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, 2020. 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.
WestRock (NYSE: WRK) partners with our customers to provide differentiated, sustainable paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.
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James Armstrong, 470-328-6327
Vice President, Investor Relations
Courtney James, 470-328-6397
Senior Manager, Corporate Communications and Public Relations