Packaging Company Westrock Increases Dividend By 10%
Portfolio Pulse from Shivani Kumaresan
WestRock Company (NYSE:WRK) has announced a 10% increase in its quarterly dividend to $0.3025 per share. The dividend will be paid on November 21, 2023, to stockholders of record as of November 13, 2023. The company held $314.8 million in cash and equivalents as of June 30, 2023. Westrock is set to report its Q4 FY23 earnings on November 9, 2023. Following the announcement, WRK shares are trading higher by 1.48% at $35.76.
October 27, 2023 | 3:42 pm
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POSITIVE IMPACT
WestRock Company's announcement of a 10% increase in its quarterly dividend is likely to be positively received by investors, as reflected in the 1.48% increase in its share price.
Dividend increases are generally seen as a positive signal by the market, indicating a company's confidence in its future earnings. This often leads to an increase in the company's share price, as is the case with WestRock Company following its announcement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100