Tredegar Stock Price, News & Analysis

The board of directors of Tredegar Corporation (TG) has announced a quarterly dividend of $0.12 per share on its common stock. This dividend will be payable on July 1, 2021 to shareholders on record as of the close of business on June 18, 2021.

Tredegar operates in three main sectors: custom aluminum extrusions, surface protection films, and specialized polyester films. In 2020, the company reported sales of $755 million and employs around 2,400 people across manufacturing facilities in North America, South America, and Asia.

Tredegar Corporation (NYSE:TG) will conduct its 2021 virtual annual meeting of shareholders on May 6, 2021, at 9:00 a.m. EDT. Shareholders who were on record as of March 12, 2021, can participate by pre-registering online. Voting is encouraged prior to the meeting, but registered shareholders will also have the option to vote during the meeting. Guests may listen in but cannot ask questions or vote. Tredegar reported $755 million in sales from continuing operations in 2020 and operates manufacturing facilities across North America, South America, and Asia.

Tredegar Corporation (NYSE:TG) reported mixed financial results for Q4 and full year 2020. Q4 net income from continuing operations was $6.5 million, up from $1.0 million in Q4 2019. However, the full year recorded a net loss of $16.8 million compared to a profit of $58.5 million in 2019. Ongoing operations showed a slight increase in net income to $50.8 million in 2020 versus $47.6 million in 2019. EBITDA varied by segment, with Aluminum Extrusions down 16.1% but Flexible Packaging Films saw significant growth. Tredegar paid a $200 million special dividend driven by strong cash generation despite the pandemic's challenges.

Bonnell Aluminum, a subsidiary of Tredegar Corporation (NYSE: TG), is expanding its TSLOTS aluminum structural framing operations into the Midwest. This new facility, alongside the existing Niles, Michigan location, offers 12,550 square feet of additional warehouse space for inventory. This expansion aims to enhance customer service in the Eastern and Midwestern U.S. by reducing shipping costs and lead times. TSLOTS provides comprehensive services, including project design assistance and fabrication, to meet growing regional demands.

Tredegar Corporation (NYSE:TG) announced a quarterly dividend of $0.12 per share, payable on January 1, 2021, to shareholders recorded by the close of business on December 11, 2021. The company operates in three primary sectors: custom aluminum extrusions, surface protection films for electronics, and specialized polyester films for flexible packaging in Latin America. In 2019, it reported sales of $826 million with a workforce of 2,400 spread across manufacturing facilities in North America, South America, and Asia.

Tredegar Corporation (NYSE:TG) has announced the retirement of Michael J. Schewel as Executive Vice President, General Counsel, and Corporate Secretary, effective January 1, 2021. He has been with the company since 2016. Kevin C. Donnelly, who joined Tredegar in 2010 and has served as Associate General Counsel since 2013, will replace him. John M. Steitz, President and CEO, praised Schewel's contributions and expressed confidence in Donnelly's capabilities. Tredegar reported 2019 sales of $826 million, operating in industries including aluminum extrusions and surface protection films.

Tredegar Corporation (NYSE: TG) has declared a special dividend of $200 million or $5.97 per share, payable on December 18, 2020, to shareholders of record by December 11, 2020. This decision was attributed to the company's strong cash generation capabilities, with $28 million in cash above its debt as of September 30, 2020. The cash position improved due to the closing of the sale of its Personal Care business, generating estimated net proceeds of $45 to $50 million.

Tredegar Corporation (NYSE: TG) reported a third quarter 2020 net loss of $17 million ($0.51 per share), compared to net income of $15.1 million ($0.45 per share) in Q3 2019. Net income from ongoing operations was nearly flat at $13.2 million ($0.39 per share) versus $13.3 million ($0.40 per share) YoY. The Company completed the sale of its Personal Care Films business for $60.5 million. Key segments showed mixed results, with Aluminum Extrusions EBITDA stable at $16.5 million, while PE Films EBITDA decreased by $4.3 million. Cash flow improved significantly, reaching $28 million in excess of debt by Q3's end.

Tredegar Corporation (NYSE:TG) has successfully concluded the sale of its Personal Care Films business to Fitesa S.A., a leader in nonwoven fabrics. The transaction is expected to yield net cash proceeds of $45 to $50 million, with minimal tax implications. The Personal Care Films will be reported as a discontinued operation in the third quarter financial results. Tredegar operates across three primary sectors: aluminum extrusions, surface protection films, and specialty polyester films, with 2019 sales of $826 million and approximately 2,500 employees worldwide.