Karat Packaging Board Declares Increase in Quarterly Cash Dividend

Rhea-AI Summary

Karat Packaging (Nasdaq: KRT) announced its board of directors has approved an increased quarterly cash dividend of $0.40 per share, up from the previous $0.35 per share. The dividend will be paid around November 29, 2024, to stockholders of record as of November 20, 2024. Karat Packaging operates as a specialty distributor and manufacturer of disposable foodservice products and related items.

Positive

• Increased quarterly dividend by 14.3% from $0.35 to $0.40 per share
• Demonstrates company's strong cash flow position and commitment to shareholder returns

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• None.

CHINO, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (the “Company” or “Karat”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that its board of directors approved the payment of a regular quarterly dividend of $0.40 per share on the Company’s common stock, reflecting an increase from the previous quarterly dividend of $0.35 per share.

The dividend is payable on or about November 29, 2024, to the stockholders of record as of November 20, 2024.

About Karat Packaging Inc.

Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. The company’s eco-friendly Karat Earth® line offers quality, sustainably focused products that are made from renewable resources. Karat Packaging also offers customized solutions, including new product development and design, printing, and logistics services. To learn more about Karat Packaging, please visit the company’s website at www.karatpackaging.com.

Investor Relations and Media Contacts:
PondelWilkinson Inc.
Judy Lin or Roger Pondel
310-279-5980
IR@karatpackaging.com

FAQ

What is Karat Packaging's (KRT) new quarterly dividend amount for November 2024?

Karat Packaging's new quarterly dividend is $0.40 per share, increased from the previous $0.35 per share.

When is the payment date for Karat Packaging's (KRT) November 2024 dividend?

The dividend payment is scheduled for November 29, 2024, to stockholders of record as of November 20, 2024.

How much did Karat Packaging (KRT) increase its quarterly dividend in November 2024?

Karat Packaging increased its quarterly dividend by $0.05 per share, from $0.35 to $0.40, representing a 14.3% increase.