Feb 08, 2013. SWM announced a 100% increase of its quarterly common stock dividend, from $0.15 per share to $0.30 per share, payable on March 21, 2013 to stockholders of record on February 28, 2013.
SWM increases dividend by 100%
Feb 08, 2013. /Lesprom Network/. SWM announced a 100% increase of its quarterly common stock dividend, from $0.15 per share to $0.30 per share, payable on March 21, 2013 to stockholders of record on February 28, 2013.
Frédéric Villoutreix, Chairman of the Board and CEO said: "The Board of Directors has approved a 100% increase in our quarterly dividend rate per share, which combined with the impact of our two-for-one stock split during 2012 reflects a 400% increase in the amount of quarterly cash dividends to be paid compared to one year ago. These actions show the confidence we have in the long-term strength of our company and support our ongoing commitment to enhancing shareholder value. Our solid performance in 2012 also positions us to enter 2013 poised for continued success. Our 2012 adjusted diluted earnings per share fell slightly short of our expectations, however the shortfall was primarily the result of expenses related to a fully resolved quality issue and special consulting studies on longer term strategic planning."
SWM is a leading provider of highly-engineered and proprietary solutions primarily for the tobacco industry. It also manufactures specialty papers for other applications.
