Karat Packaging Declares Special Cash Dividend; Approves Quarterly Cash Dividend Policy and Declares Quarterly Cash Dividend
09 Agosto 2023 - 7:00AM
Karat Packaging Inc. (Nasdaq: KRT) (the “Company” or “Karat”), a
specialty distributor and manufacturer of disposable foodservice
products and related items, today announced that its Board of
Directors has declared a special cash dividend of $0.40 per share
on the Company’s common stock. Additionally, the Board of Directors
approved a quarterly cash dividend policy and declared a quarterly
cash dividend of $0.10 per share on the Company’s common stock. The
amount of future quarterly cash dividends will be at the sole
discretion of the Board of Directors.
Both dividends are payable on or about August 31, 2023, to
shareholders of record at the close of business on August 23,
2023.
“The initiation of a quarterly dividend represents a milestone
for Karat, which has been a publicly traded company since April
2021,” said Alan Yu, chief executive officer. “These distributions
reflect Karat’s strong operating performance and cash position, and
the board’s commitment to returning value to our shareholders.”
About Karat Packaging Inc.Karat Packaging Inc.
is a specialty distributor and manufacturer of a wide range of
disposable foodservice products and related items, primarily used
by national and regional restaurants and in foodservice settings
throughout the United States. Its products include food and
take-out containers, bags, tableware, cups, lids, cutlery, straws,
specialty beverage ingredients, equipment, gloves and other
products. The company’s eco-friendly Karat Earth® line offers
quality, sustainably focused products that are made from renewable
resources. Karat Packaging also offers customized solutions,
including new product development and design, printing, and
logistics services. To learn more about Karat Packaging, please
visit the company’s website at www.karatpackaging.com.
Investor Relations and Media
Contacts:PondelWilkinson Inc.Judy Lin or Roger
Pondel310-279-5980IR@karatpackaging.com
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