Packaging Corporation of America reports recurring developments for a North American producer of containerboard products, corrugated packaging, and uncoated freesheet paper. The company describes itself as the third-largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America, with ten mills and 91 corrugated products plants and related facilities supporting its packaging operations.
Company news is centered on quarterly and full-year operating results, segment financial summaries, non-GAAP reconciliations, special items, dividend declarations on common stock, earnings conference calls, and investor conference presentations. Updates also discuss operating items such as mill restructuring, acquisition and integration costs, and corrugated products facility closures when those actions affect reported results.
Packaging Corporation of America (NYSE: PKG) has announced a quarterly dividend of $1.00 per share, payable on April 15, 2021, for shareholders of record by March 15, 2021. The Board of Directors will determine future dividends and their payment schedules. PCA ranks as the third largest producer of containerboard products and uncoated freesheet paper in North America, operating eight paper mills and 90 corrugated products plants.
Packaging Corporation of America (NYSE: PKG) reported Q4 2020 net income of $124 million, or $1.30 per share, down from $1.43 per share in Q4 2019. Full year 2020 net income reached $461 million, or $4.84 per share, a decrease from $7.34 in 2019. Q4 net sales remained flat at $1.7 billion, while full year sales dropped to $6.7 billion from $7.0 billion in 2019. Key factors impacting results included lower prices in the Packaging and Paper segments, increased maintenance and freight costs, and tax rate rises. Segment income for Packaging was $209.6 million, while Paper incurred a loss of $1.7 million.
Packaging Corporation of America (NYSE: PKG) is set to hold a conference call on January 28, 2021, at 9:30 a.m. ET to discuss its fourth quarter and full year 2020 results. Earnings results will be made public after market close on January 27, 2021. Interested parties can join the call by dialing (855) 730-0288 for U.S. callers or (832) 412-2295 for international attendees. Mark Kowlzan will lead the call, and a replay will be available until February 11, 2021. PCA is the third largest producer of containerboard products and operates eight paper mills and 92 plants in North America.
Packaging Corporation of America (NYSE: PKG) announced a significant increase in its quarterly cash dividend to an annual amount of $4.00 per share, up from $3.16, reflecting a 27% rise. The first dividend of $1.00 per share will be paid on January 15, 2021 to shareholders of record by December 21, 2020. This move highlights PCA's operational and financial strength, as emphasized by CEO Mark W. Kowlzan, who reaffirmed the company’s commitment to generating value for shareholders.
Packaging Corporation of America (NYSE: PKG) announced its Q3 2020 results, reporting a net income of $139 million, or $1.46 per share. Excluding special items, net income was $149 million, or $1.57 per share. Total net sales decreased to $1.69 billion from $1.75 billion in Q3 2019. The decline in earnings was attributed to lower prices and volumes in its Packaging and Paper segments, and expenses related to Hurricane Laura. Despite challenges, demand for corrugated products remained strong, with expectations for increased prices in the upcoming quarter.