DUBLIN - Smurfit Westrock plc (NYSE:SW, LSE:SWR), a global leader in paper-based packaging solutions, has declared a quarterly dividend of $0.3025 per ordinary share, as confirmed by the company's Board. This dividend is scheduled to be paid on December 18, 2024, to shareholders on record as of the close of business on November 15, 2024.
The company has specified the ex-dividend date, which is also November 15, 2024. Shareholders must be on the company's books by this date to be eligible for the dividend payment.
For shareholders holding their shares through a Depository Trust Company (DTC) participant or in registered form, the default payment currency for the dividend will be in U.S. Dollars. However, shareholders have the option to receive their dividend in a different currency. Those who wish to receive the payment in Pounds Sterling or Euro must notify Computershare Trust Company N.A. by 5:00 p.m. (New York) / 10:00 p.m. (Dublin) on November 14, 2024.
Similarly, shareholders with ordinary shares in the form of Depository Interests will receive their dividend in U.S. Dollars by default but can elect to receive the dividend in Pounds Sterling or Euro. To do so, they must provide their instructions to Computershare Investor Services plc by 12:00 p.m. (New York) / 5:00 p.m. (Dublin) on November 29, 2024.
Smurfit Westrock employs approximately 100,000 people across 40 countries, emphasizing its significant global footprint in the packaging industry. The company's focus on paper-based packaging solutions aligns with growing environmental concerns and the shift towards sustainable packaging options.
This dividend announcement is based on a press release statement issued by Smurfit Westrock. It reflects the company's ongoing commitment to providing value to its shareholders through regular dividend payments. The company's stock is traded on both the New York Stock Exchange and the London Stock Exchange, under the tickers NYSE:SW and LSE:SWR, respectively.
In other recent news, Smurfit Westrock has been the subject of several significant developments. Following its merger with WestRock (NYSE:WRK) Company, the company underwent a major reorganization of its business segments. The operations have been divided into Smurfit Westrock Europe, MEA and APAC, Smurfit Westrock North America, and Smurfit Westrock Latin America.
Citi initiated coverage on Smurfit Westrock with a Buy rating, predicting a positive earnings revision due to a favorable Containerboard pricing cycle. The firm also highlighted the potential for internal improvements and synergies, estimating a $200 million benefit from margin expansion.
Additionally, Smurfit Westrock extended its receivables purchasing agreement with Coöperatieve Rabobank U.A., New York Branch until September 15, 2025, as part of its strategy to manage its working capital effectively.
In a noteworthy legal victory, the company was awarded over $468.7 million by an international arbitration tribunal in a dispute with the Bolivarian Republic of Venezuela.
Lastly, Smurfit Westrock's subsidiary, WRKCo Inc., is seeking to terminate its status as a reporting issuer in Quebec, Manitoba, and British Columbia, pending regulatory approvals. These are just a few of the recent developments involving Smurfit Westrock.
InvestingPro Insights
Smurfit Westrock's recent dividend announcement aligns with its strong financial position and market performance. According to InvestingPro data, the company boasts a market capitalization of $23.91 billion and a dividend yield of 2.64% as of the latest available data. This yield, coupled with the company's consistent dividend payments, underscores its commitment to shareholder returns.
InvestingPro Tips reveal that Smurfit Westrock has been profitable over the last twelve months, with a P/E ratio of 19.85. This profitability is further supported by the company's solid financials, including revenue of $11.68 billion in the last twelve months as of Q2 2024. The company's liquid assets exceeding short-term obligations indicate a strong balance sheet, which is crucial for maintaining its dividend policy.
Notably, Smurfit Westrock has demonstrated impressive market performance, with a one-year price total return of 50.88%. This substantial return suggests investor confidence in the company's strategy and future prospects in the paper-based packaging solutions sector.
For investors seeking a deeper understanding of Smurfit Westrock's financial health and potential, InvestingPro offers additional insights. The platform provides over 10 more tips for SW, offering a comprehensive view of the company's financial landscape and growth potential.
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