KP Tissue Announces Quarterly Dividend Payment
Recently, KP Tissue Inc. (KPT) announced a noteworthy dividend of $0.18 per common share, a clear indicator of the company's proactive stance toward rewarding its shareholders. This generous dividend has sparked interest among investors, hinting at the solid financial health KP Tissue maintains.
Details of the Dividend Declaration
This dividend will be distributed on January 15 of the upcoming year to shareholders listed on record as of the end of business on December 31. It's essential for investors to note that these dividends are categorized as "eligible" according to Canada's Income Tax Act, making them advantageous for tax purposes.
Connection to Kruger Products Inc.
The declaration of this dividend aligns with a corresponding quarterly distribution by Kruger Products Inc., where KP Tissue holds a limited partnership interest. This partnership underscores KP Tissue's strategic alignment with Kruger Products, a leading manufacturer of quality tissue products in Canada.
Dividend Reinvestment Plan (DRIP)
Investors can take advantage of KP Tissue’s Dividend Reinvestment Plan (DRIP), which allows eligible shareholders to reinvest their dividends to acquire additional common shares. This reinvestment is calculated at a price based on the five-day average trading price leading up to the payment date, thus potentially increasing their equity position.
Eligibility for the DRIP
It is noteworthy that only Canadian shareholders can participate in this DRIP. Interested shareholders must consult their brokers or financial institutions to clarify their eligibility and comply with any deadlines or requirements necessary for enrollment in the program.
About KP Tissue Inc.
KP Tissue Inc. operates primarily to maintain a significant equity stake in Kruger Products, holding a 12.1% interest. The company's focus on managing this investment highlights its commitment to strategic growth and sustainable returns for its shareholders.
About Kruger Products Inc.
Kruger Products stands as a premier manufacturer of high-quality tissue products, recognized across Canada and in certain aspects of the U.S. market. Their brands include well-loved products such as Cashmere, Purex, and White Cloud. With around 3,000 employees and multiple production facilities, Kruger maintains a firm foothold in the tissue manufacturing industry.
Contact Information for Shareholders
If shareholders have questions regarding the dividend or the DRIP, they can reach out to François Paroyan, General Counsel and Corporate Secretary at KP Tissue, via phone at 905-812-6936 or through email at francois.paroyan@krugerproducts.ca. For investor relations inquiries, Doris Grbic, Director, can be contacted at 437-882-2596 or via email at IR@krugerproducts.ca.
Frequently Asked Questions
What is the amount of the dividend declared by KP Tissue?
KP Tissue has declared a quarterly dividend amounting to $0.18 per common share.
When will the dividend be paid out?
The dividend is set to be paid on January 15 of the upcoming year to those shareholders who are recorded as of December 31.
What is the Dividend Reinvestment Plan (DRIP)?
The DRIP allows eligible shareholders to reinvest their dividends into additional common shares at a price based on the average trading price before the payment date.
Who is eligible to participate in the DRIP?
Only Canadian shareholders are eligible to participate in KP Tissue's Dividend Reinvestment Plan.
How can shareholders get more information about KP Tissue?
Shareholders can visit KP Tissue's official website or contact the company's representatives for further details.
