Greif, Inc. Declares Increased Quarterly Dividend

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging, has declared increased quarterly cash dividends of $0.54 per share on Class A Common Stock and $0.81 per share on Class B Common Stock. The dividends are payable on October 1, 2024, to stockholders of record as of September 16, 2024.

CFO Larry Hilsheimer emphasized that this increase aligns with Greif's disciplined capital allocation framework, promoting strong cash conversion and steadily increasing shareholder returns. The company's Build to Last Strategy has demonstrated the ability to raise dividend yields while investing in long-term growth.

Positive

• Increased quarterly cash dividends for both Class A and Class B Common Stock
• Strong cash conversion allowing for increased shareholder returns
• Successful execution of Build to Last Strategy enabling dividend growth and business investment

Negative

• None.

DELAWARE, Ohio, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that its Board of Directors has declared quarterly cash dividends of $0.54 per share on its Class A Common Stock, and $0.81 per share on its Class B Common Stock.

"In-line with our disciplined capital allocation framework, which promotes strong cash conversion that ensures robust and steadily increasing shareholder return, our Board has once again raised our quarterly dividend," said Larry Hilsheimer, Greif's Executive Vice President and Chief Financial Officer. "Our dividend is a critical part of our value creation. Our execution of the Build to Last Strategy has proven the ability to continue increasing dividend yield while also investing in our business for long-term growth.”

Dividends are payable on October 1, 2024, to stockholders of record at the close of business on September 16, 2024.

About Greif, Inc.

Greif is a global leader in industrial packaging products and services and is pursuing its vision: be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, jerrycans and other small plastics, containerboard, corrugated sheets and products, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides other packaging services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company has a workforce of over 14,000 colleagues spread across more than 250 facilities in 37 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com.

Contact:

Bill D’Onofrio
614-499-7233
bill.donofrio@greif.com

FAQ

What is the new quarterly dividend for Greif's Class A Common Stock (GEF)?

Greif's new quarterly dividend for Class A Common Stock (GEF) is $0.54 per share.

When will Greif (GEF) pay its next dividend?

Greif (GEF) will pay its next dividend on October 1, 2024, to stockholders of record as of September 16, 2024.

Has Greif (GEF) increased its dividend?

Yes, Greif (GEF) has increased its quarterly dividend for both Class A and Class B Common Stock.

What is Greif's (GEF) capital allocation strategy?

Greif (GEF) follows a disciplined capital allocation framework that promotes strong cash conversion, ensuring robust and steadily increasing shareholder returns while investing in long-term growth.