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Karat Packaging Declares Special Dividend of $0.35 Per Share
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CHINO, Calif., May 09, 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 has declared a special cash dividend of $0.35 per share on the Company’s common stock. The special dividend is payable on or about May 31, 2023, to shareholders of record at the close of business on May 23, 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
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
