Karat Packaging Board Declares Special Cash Dividend and Regular Quarterly Cash Dividend
Karat Packaging (Nasdaq: KRT), a specialty distributor and manufacturer of disposable foodservice products, has announced two dividend payments.
Sentiment and the balance of points
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Rhea-AI Summary
Karat Packaging (Nasdaq: KRT), a specialty distributor and manufacturer of disposable foodservice products, has announced two dividend payments. The company's board of directors has approved a regular quarterly cash dividend of $0.35 per share and a special cash dividend of $0.15 per share. Both dividends will be payable on August 30, 2024, to shareholders of record as of August 21, 2024.
CEO Alan Yu stated that these distributions reflect Karat's strong cash position and positive long-term outlook. The board remains committed to providing returns to shareholders and continually assessing opportunities to enhance shareholder value.
Positive
- Declaration of a regular quarterly cash dividend of $0.35 per share
- Additional special cash dividend of $0.15 per share
- Strong cash position indicated by the company
- Positive long-term outlook expressed by management
Negative
- None.
Details
News Market Reaction – KRT
The recorded move for KRT in the trading session of this news was +0.40%.
Data tracked by StockTitan Argus. Session date unavailable.
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CHINO, Calif., Aug. 07, 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 has approved payment of a regular quarterly cash dividend of
Both dividends are payable on or about August 30, 2024, to shareholders of record at the close of business on August 21, 2024.
“These distributions reflect Karat’s strong cash position and positive long-term outlook,” said Alan Yu, chief executive officer. “Our board remains committed to providing returns to our shareholders and to continually assess opportunities to enhance shareholder value.”
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
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