Glatfelter Increases Dividend by 11%
York, PA, March 5, 2013: Glatfelter (NYSE: GLT) today announced that its board of directors increased its quarterly dividend to $0.10 per share on its outstanding common stock. The dividend is payable on May 1, 2013 to shareholders of record as of the close of business on April 4, 2013.
“This dividend increase reflects the strength of our balance sheet, our expectation for continued healthy free cash flow generation and our on-going focus to return value to our shareholders,” said Dante C. Parrini, chairman and chief executive officer. “Glatfelter is committed to a sustainable and competitive dividend, which is reviewed periodically and will be increased as earnings and cash flows permit.”
Headquartered in York, PA, Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials, offering over a century of experience, technical expertise and world-class service. U.S. operations include facilities in Spring Grove, PA and Chillicothe and Fremont, OH. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, a representative office in China and a sales and distribution office in Russia. Glatfelter’s sales approximate $1.7 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT. Additional information may be found at www.glatfelter.com.