Welcome to our dedicated page for Tredegar news (Ticker: TG), a resource for investors and traders seeking the latest updates and insights on Tredegar stock.
Tredegar Corporation reports developments across an industrial manufacturing business built around Aluminum Extrusions and High Performance Films. Its aluminum operations, conducted through Bonnell Aluminum, produce custom-fabricated and finished extrusions for building and construction, automotive, transportation, consumer durables, machinery and equipment, electrical, renewable energy and distribution markets.
Recurring TG news includes quarterly and annual operating results, segment demand trends, non-GAAP reconciliations, operational productivity initiatives, and product or market commentary such as TSLOTS aluminum framing systems. Company updates also cover High Performance Films, surface protection films for high-technology electronics applications, board and executive leadership changes, and Bonnell Aluminum commercial leadership developments.
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.