Greif (GEF) hikes dividend by 3.8% to $0.54 quarterly

Greif Inc (GEF) has announced a dividend hike of 3.8% to $0.54 quarterly per share. This marks 4 consecutive years of dividend growth by the producer of industrial packaging products and services.

Dividends are payable on October 1, 2024, to stockholders of record at the close of business on September 16, 2024. The dividend yield for Greif is 3.4% at a stock price of $63.90. In 2023 Greif announced a 2 cent per share dividend hike to 52 cents quarterly per share. In 2022 the dividend was hiked by a bigger 8.7%.

"In-line with our disciplined capital allocation framework, which promotes strong cash conversion that ensures robust and steadily increasing shareholder return, our Board has once again raised our quarterly dividend," said Larry Hilsheimer, Greif's Executive Vice President and Chief Financial Officer. "Our dividend is a critical part of our value creation. Our execution of the Build to Last Strategy has proven the ability to continue increasing dividend yield while also investing in our business for long-term growth.”

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.