The board of directors of Tredegar Corporation (NYSE:TG) declared a quarterly dividend of four and one-half cents ($.045) per share on the company’s common stock, representing a two cent ($.02) increase in the dividend on an annualized basis. The dividend is payable on April 1, 2011 to shareholders of record at the close of business on March 18, 2011.
Nancy M. Taylor, Tredegar’s president and chief executive officer, said, “The increase in our quarterly dividend reflects our commitment to create long-term value for our shareholders. We are comfortable that our cash flow from operations will more than cover the increased dividend. Share repurchases continue to be another option that we will consider from time to time on an opportunistic basis through open market purchases. We believe that our strong financial position will allow us to drive shareholder returns while pursuing additional growth opportunities, such as strategic investments in our operating businesses and acquisitions.”
Based in Richmond, Va., Tredegar Corporation is primarily a global manufacturer of plastic films and aluminum extrusions.