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Karat Packaging Board Declares Increase in Quarterly Cash Dividend
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Karat Packaging Inc. (Nasdaq: KRT) announces a 100% increase in its regular quarterly dividend to $0.20 per share on its common stock, reflecting positive financial performance and confidence in future earnings.
Positive
The 100% increase in the regular quarterly dividend reflects the company's strong financial performance and confidence in future earnings, signaling stability and potential growth for investors.
Negative
None.
CHINO, Calif., Nov. 07, 2023 (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 $0.20 per share on the Company’s common stock, reflecting an increase from the previous quarterly dividend of $0.10 per share.
The dividend is payable on or about November 30, 2023, to the stockholders of record as of November 20, 2023.
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 the ticker symbol of Karat Packaging Inc.?
The ticker symbol of Karat Packaging Inc. is KRT.
What is the amount of the new quarterly dividend?
The new quarterly dividend is $0.20 per share, reflecting a 100% increase from the previous $0.10 per share.
What does the increase in dividend signify?
The increase in dividend reflects the company's positive financial performance and confidence in future earnings, potentially attracting more investors.
lollicup usa domestically manufactures & distributes karat® paper & plastic disposable foodservice products, and tea zone® coffee & beverage supplies for thousands of retail business accounts, including several fortune 500 restaurant franchises. founded in 2000 by alan yu and marvin cheng, lollicup usa began with the opening of our first bubble tea café in san gabriel, ca, bringing the popular taiwanese boba milk tea to the u.s. market. by 2004, over 60 stores were opened across six states. with two new locations in chengdu, china, we are currently updating our existing locations and plan on opening additional stores in the near future, expanding overseas into europe and the middle east. to maintain consistent quality for our retail stores, lollicup usa established two brands, tea zone® and karat®, in 2001 and 2004 respectively. tea zone™ offers high-quality bubble tea & beverage ingredients, while karat® provides premium paper & plastic disposable goods. while expanding our company, w
