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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  KP Tissue Inc.    KPT   CA48265Y1043

KP TISSUE INC.

(KPT)
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KP Tissue : declares a Quarterly Dividend of $0.18 per Common Share

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08/06/2020 | 08:04am EDT

NOT FOR DISTRIBUTION IN THE U.S.A. OR OVER U.S. WIRE SERVICES

MISSISSAUGA, Ontario, Aug. 06, 2020 (GLOBE NEWSWIRE) -- KP Tissue Inc. (“KPT”) (TSX: KPT) announced today that the Board of Directors has declared a quarterly dividend of $0.18 per common share, payable on October 15, 2020 to shareholders of record at the close of business on September 30, 2020, subject to applicable law.

The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

The dividend is being declared in connection with the declaration of a corresponding quarterly distribution by Kruger Products L.P. (“KPLP”) in which KP Tissue holds a limited partnership interest.

Dividend Reinvestment Plan

The Corporation has a Dividend Reinvestment Plan under which eligible shareholders may elect to have their cash dividends reinvested in additional common shares of KPT. Under the Plan, the Corporation will automatically reinvest for participating shareholders the cash dividends of KPT in newly issued Common Shares at a price per Common Share equal to the 5-day weighted average trading price of the Common Shares prior to the dividend payment date. The Plan was recently amended to increase the price per Common Share issued pursuant to the Plan from 97% of the 5-day weighted average trading price of the Common Shares prior to the dividend payment date to 100% of the 5-day weighted average trading price of the Common Shares prior to the dividend payment date. The amendment is subject to approval by the Toronto Stock Exchange.

Only Canadian shareholders are eligible to participate in the DRIP and the DRIP is subject to additional limitations and restrictions. Interested shareholders are encouraged to review the full text of the DRIP, available on KPT’s website at www.kptissueinc.com.

Shareholders who wish to participate in the DRIP should contact their broker, financial institution, or other nominee through which their Common Shares are held to determine their eligibility and provide appropriate enrolment instructions, and to ensure any deadlines or other requirements that such broker, financial institution, or nominee may impose or be subject to are met. 

About KP Tissue Inc.
KPT was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP, which is accounted for as an investment on the equity basis. KPT currently holds a 14.8% interest in KPLP. For more information visit www.kptissueinc.com.

About Kruger Products L.P.
KPLP is Canada's leading manufacturer of quality tissue products for household, industrial and commercial use. KPLP serves the Canadian consumer market with such well-known brands as Cashmere®, Purex®, SpongeTowels®, Scotties® and White Swan®. In the U.S., KPLP manufactures the White Cloud® brand, as well as many private label products. The Away-From-Home division manufactures and distributes high-quality, cost-effective product solutions to a wide range of commercial and public entities. KPLP has approximately 2,500 employees and operates eight FSC® COC-certified (FSC® C-104904) production facilities in North America. For more information visit www.krugerproducts.ca.

INFORMATION:
François Paroyan
General Counsel and Corporate Secretary
KP Tissue Inc.
Tel.: 905.812.6936
Francois.Paroyan@krugerproducts.ca

INVESTORS:
Mike Baldesarra
Director of Investor Relations
KP Tissue Inc.
Tel.: 905.812.6962
IR@kptissueinc.com

SOURCE KP Tissue Inc


KP Tissue Inc..jpg

Source: KP Tissue Inc.

2020 GlobeNewswire, Inc., source Press Releases


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Financials
Sales 2020 1 476 M 1 123 M 1 123 M
Net income 2020 - - -
Net Debt 2020 854 M 650 M 650 M
P/E ratio 2020 -
Yield 2020 5,82%
Capitalization 120 M 91,6 M 91,6 M
EV / Sales 2020 0,66x
EV / Sales 2021 0,57x
Nbr of Employees 2 300
Free-Float 99,7%
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Mean consensus HOLD
Number of Analysts 6
Average target price 14,08 CAD
Last Close Price 12,38 CAD
Spread / Highest target 33,3%
Spread / Average Target 13,8%
Spread / Lowest Target 5,01%
EPS Revisions
Managers
NameTitle
Dino J. Bianco Chief Executive Officer
Michael J. Korenberg Chairman
Mark Holbrook Chief Financial Officer
Michel Letellier Independent Director
James Hardy Independent Director
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