KP Tissue Declares a Quarterly Dividend
KP Tissue Inc. (KPT) has made a noteworthy announcement regarding its financial strategy. The company has declared a quarterly dividend of $0.18 per common share. This decision, made by the Board of Directors, is set to benefit shareholders who currently hold shares before the record date.
Dividend Payment Details
This dividend is scheduled for payment on the 15th of October to all shareholders recorded on the 30th of September. This timing allows shareholders to plan accordingly while receiving a designated return on their investment, in line with KPT's commitment to providing value.
Eligible Dividends
The dividends declared are recognized as "eligible" under the Income Tax Act in Canada. This categorization may provide certain tax advantages, which is welcome news for shareholders focused on maximizing their returns. Understanding these benefits can aid shareholders in their financial planning.
Connection to Kruger Products
This dividend is closely linked to a larger distribution issued by Kruger Products Inc. As KPT maintains a limited partnership stake in Kruger Products, its financial health directly influences KPT's dividend payouts. Therefore, as Kruger Products grows and expands, KPT shareholders benefit substantially.
Dividend Reinvestment Plan (DRIP)
KPT has established a Dividend Reinvestment Plan designed to give participating shareholders the ability to reinvest their dividends. By opting into this plan, shareholders can acquire additional common shares of KPT using their dividend payments. This offers a unique opportunity to enhance ownership in the company without additional cash outlay.
Participation in the DRIP
To be eligible for the Dividend Reinvestment Plan, Canadian shareholders must contact their brokers or financial advisors to discuss enrollment options. It’s important to note that participation is subject to various timelines and conditions set forth by the respective financial institutions. Engaging with brokers early can ensure that all requirements are appropriately met.
About KP Tissue Inc.
KP Tissue Inc. was founded with the purpose of holding an equity interest in Kruger Products. Currently, KPT boasts a 12.2% interest in Kruger Products, which highlights the strategic alignment and support between the two companies. This relationship is vital as Kruger Products continues to hold a significant position within the market.
Kruger Products Overview
Kruger Products stands as a prominent manufacturer in Canada, producing a variety of quality tissue products utilized in household and commercial sectors. Known for popular brands such as Cashmere, Purex, and Scotties, Kruger Products is committed to maintaining high manufacturing standards and innovation within the industry.
With approximately 3,000 dedicated employees, Kruger Products operates across several certified production facilities in North America. Their focus on sustainability and operational excellence ensures that they meet the varied demands of their consumer base effectively.
Contact Information
If you have any inquiries regarding KPT's financial activities or the recent dividend declaration, the company contact details are as follows:
François Paroyan
General Counsel and Corporate Secretary
KP Tissue Inc.
905-812-6936
Email: francois.paroyan@krugerproducts.ca
Doris Grbic
Director, Investor Relations
KP Tissue Inc.
437-882-2596
Email: IR@krugerproducts.ca
Frequently Asked Questions
What is the amount of the declared dividend by KP Tissue?
The declared dividend by KP Tissue Inc. is $0.18 per common share.
When is the dividend payment date?
The dividend payment date is scheduled for October 15.
Who is eligible to participate in the DRIP?
Only Canadian shareholders are eligible to participate in the Dividend Reinvestment Plan.
How can shareholders enroll in the DRIP?
Shareholders can enroll in the DRIP by contacting their brokers or financial institutions to confirm their eligibility.
How does the dividend affect shareholders?
Shareholders benefit from receiving a return on their investment through the quarterly dividends, and those participating in the DRIP may increase their holdings in the company.
