Bemis Makes Financial Announcements

Published: February 25, 2016

NEENAH, WI | The board of directors of Bemis Company has increased the authorization for share repurchases by 20 million additional shares of Bemis Company stock, supplementing the 2.4 million shares remaining from the previous share repurchase authorization by the board in May of 2014 for 8 million shares. Bemis is a supplier of flexible and rigid packaging used by food, consumer products, healthcare, and other companies worldwide.

“[This] Board authorization demonstrates continued confidence in our ability to grow and generate strong cash flow and in our commitment to expand the ways we deliver returns to our shareholders,” says William F. Austen, Bemis Company's president and CEO. "In alignment with our priority to increase shareholder value, we will continue to emphasize growth through organic and inorganic initiatives, while committing to utilize our excess cash to repurchase shares during the next three to five years. While maintaining our strong balance sheet, we will continue to invest our cash flow in capital projects for growth and efficiency, pay an increasing dividend, and finance acquisitions, along with these share repurchases.”

In addition, the board of directors has approved a 4% increase in the quarterly cash dividend, increasing it to 29 cents/share compared to the previous quarterly dividend of 28 cents/share. The cash dividend is payable on March 1, 2016, to shareholders of record at the close of business on February 17, 2016. This marks the 33rd consecutive year that the company has increased its dividend payment. Bemis reports it has been paying an annual dividend on its stock since 1922 and has been included in Standard & Poor's list of Dividend Aristocrats since 2008.

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