Greif hikes dividend by 8.7%

On August 30, 2022, Greif Inc (GEF) announced a dividend hike of 8.7% to $0.50 quarterly per share. This follows a 4.5 percent dividend hike to 46 cents per share by GEF in 2021 and marks 2 consecutive years of dividend growth by the producer of industrial packaging products and services.

The next GEF dividend of 50 cents quarterly is payable on October 1, 2022, to shareholders of record at the close of business on September 16, 2022. The new annual dividend of $2.00 per share yields 2.9% at a stock price of $68 for Greif. The next ex-dividend date for GEF is September 15, 2022.

"We are excited to continue growing our recurring dividend," said Larry Hilsheimer, Greif's Executive Vice President and Chief Financial Officer. "This increased dividend supplements our recently announced share repurchase program, which together provide a compelling investment opportunity to our shareholders."

Greif, Inc. is a producer of industrial packaging products and services. produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The company also manufactures packaging accessories and provides filling, packaging and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States.