KP Tissue Declares a Quarterly Dividend of $0.18 per Common Share
NOT FOR DISTRIBUTION IN THE U.S.A. OR OVER U.S. WIRE SERVICES
MISSISSAUGA, Ontario, May 08, 2020 (GLOBE NEWSWIRE) -- KP Tissue Inc. (“KPT”) (TSX: KPT) announced today that the Board of Directors has declared a quarterly dividend of $0.18 per common share, payable on July 13, 2020 to shareholders of record at the close of business on June 26, 2020, subject to applicable law.
The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
The dividend is being declared in connection with the declaration of a corresponding quarterly distribution by Kruger Products L.P. (“KPLP”) in which KP Tissue holds a limited partnership interest.
Dividend Reinvestment Plan
The Corporation has a Dividend Reinvestment Plan under which eligible shareholders may elect to have their cash dividends reinvested in additional common shares of KPT. Under the Plan, the Corporation will automatically reinvest for participating shareholders the cash dividends of KPT in newly issued Common Shares at a price per Common Share equal to the 5-day weighted average trading price of the Common Shares prior to the dividend payment date. The Plan was recently amended to increase the price per Common Share issued pursuant to the Plan from 97% of the 5-day weighted average trading price of the Common Shares prior to the dividend payment date to 100% of the 5-day weighted average trading price of the Common Shares prior to the dividend payment date. The amendment is subject to approval by the Toronto Stock Exchange.
Only Canadian shareholders are eligible to participate in the DRIP and the DRIP is subject to additional limitations and restrictions. Interested shareholders are encouraged to review the full text of the DRIP, available on KPT’s website at .
Shareholders who wish to participate in the DRIP should contact their broker, financial institution, or other nominee through which their Common Shares are held to determine their eligibility and provide appropriate enrolment instructions, and to ensure any deadlines or other requirements that such broker, financial institution, or nominee may impose or be subject to are met.
About KP Tissue Inc.
KP Tissue Inc. (KPT) was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP. For more information visit .
About Kruger Products L.P.
Kruger Products L.P. is Canada's leading manufacturer of quality tissue products for household, industrial and commercial use. Kruger Products L.P. serves the Canadian consumer market with such well-known brands as Cashmere®, Purex®, SpongeTowels®, Scotties® and White Swan®. In the U.S., Kruger Products L.P. manufactures the White Cloud® brand, as well as many private label products. Kruger Products L.P. has approximately 2,500 employees and operates eight FSC® CoC-certified (FSC® C104904) production facilities in North America. For more information visit .
INFORMATION:
François Paroyan
General Counsel and Corporate Secretary
KP Tissue Inc.
Tel.: 905.812.6936
INVESTORS:
Mike Baldesarra
Director of Investor Relations
KP Tissue Inc.
Tel.: 905.812.6962
SOURCE KP Tissue Inc
