Graphic Packaging Holding Company, a consumer packaging company, has announced the declaration of a quarterly dividend. The company’s Board of Directors declared a dividend of $0.10 per share of common stock.
In a release, the company said that this dividend will be paid to stockholders of record as of 15 June 2023 and is scheduled to be payable on 5 July 2023.
Solid first quarter 2023 performance
In its recent report for the first quarter (Q1) of 2023, Graphic Packaging Holding Company showcased strong financial performance. The net income for the first quarter of 2023 amounted to $207m, or $0.67 per share. This is based on 309.7 million weighted average diluted shares.
A comparison with the first quarter of 2022
The growth becomes more apparent when comparing the results with the same period in the previous year. In the Q1 of 2022, the net income stood at $107m, or $0.35 per share, based on 309.7 million weighted average diluted shares. This indicates a significant increase in net income for the Q1 of 2023.
Adjusted net income figures
In order to provide a clearer picture of the company’s financial performance, it is important to account for special charges and amortisation of purchased intangibles. After adjusting for these factors, the adjusted net income for the Q1 of 2023 was $237m, or $0.77 per diluted share.
Comparatively, the adjusted net income for the Q1 of 2022 was $149m, or $0.48 per diluted share. This demonstrates a substantial improvement in adjusted net income when comparing the two quarters.