The Board of Directors of Bemis Company, Inc. (NYSE:BMS) has declared a regular quarterly dividend of 27 cents per share. The cash dividend is payable on June 2, 2014, to shareholders of record at the close of business on May 19, 2014. Bemis has paid an annual dividend on its common stock since 1922 and has been included in Standard & Poor's list of Dividend Aristocrats since 2008.
In addition, the Board increased the authorization for repurchases by eight million shares of Bemis Company stock, supplementing the current buyback authorization. This approval enables Bemis to continue to use a portion of its free cash flow to repurchase shares from time to time through open market purchases, privately negotiated transactions, accelerated share repurchase programs, or Rule 10b5-1 plans.
"At Bemis, we are focused on total return to shareholders through prudent investment of cash flow in growth-oriented capital investments, acquisitions, dividends, and share repurchases," said Henry Theisen, Bemis Company President and Chief Executive Officer. "Today's Board authorization demonstrates our continued confidence in the ability of our business to generate strong cash flows and to reach our long-term goals for earnings growth."
ABOUT BEMIS COMPANY, INC.
Bemis Company, Inc. is a major supplier of packaging and pressure sensitive materials used by leading food, consumer products, healthcare, and other companies worldwide. Founded in 1858, Bemis is included in the S&P 500 index of stocks and reported 2013 net sales of $5.0 billion. Bemis has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs approximately 19,000 individuals worldwide. More information about Bemis is available at our website,