Jun 06, 2007. /Lesprom Network/. The board of directors of Greif, Inc. declared on June 5, 2007 quarterly cash dividends of $0.28 per share of class A common stock and $0.42 per share of class B common stock. On a two-for-one post-stock split basis, this compares with first- quarter dividends of $0.18 per share of class A common stock and $0.27 per share of class B common stock. Greif chairman, chief executive officer and president Michael Gasser said, "The increase in dividends is consistent with the company's targeted dividend payout ratio of 30% to 35% over a complete business cycle." The dividends are payable on July 1, 2007, to shareholders of record at close of business on June 18, 2007. Greif, Inc. is a world leader in industrial packaging products and services. The company produces steel, plastic, fibre, corrugated and multiwall containers, protective packaging and containerboard, and provides blending and packaging services for a wide range of industries. Greif also manages timber properties in North America. The company is strategically positioned in more than 40 countries to serve global as well as regional customers.