Orient Paper Declares First Quarter 2013 Dividend of $0.0125 per Share
BAODING, China, April 4, 2013
BAODING, China, April 4, 2013 /PRNewswire/ --Orient Paper, Inc. ("Orient
Paper" or the "Company") (NYSE MKT: ONP), a leading manufacturer and
distributor of diversified paper products in North China, today announced that
its Board of Directors declared another quarterly cash dividend of $0.0125 per
share. The dividend is payable on April 30, 2013 to shareholders of record as
of the close of business of April 16, 2013.
"As we have completed the county-wide government inspections in the last
month, we are now working hard to ramp up our new Corrugating Medium Paper
production line and increase utilization rate, as well as execute our
expansion plans for the tissue business. We will also continue to focus on
shareholder value and are pleased to announce our fourth consecutive cash
dividend," said Mr. Zhenyong Liu, Chairman and Chief Executive Officer of
"Although market conditions are still challenging, we remain committed to be
sustainably the profitable cost leader in paper production in North China,"
added Mr. Liu.
About Orient Paper, Inc.
Orient Paper, Inc. ("Orient Paper") is a leading paper manufacturer in North
China. Using recycled paper as its primary raw material, Orient Paper produces
and distributes three types of paper products namely, packaging paper
(corrugating medium paper), offset printing paper, and other paper products,
including digital photo paper, and household/tissue paper that the company is
currently expanding into.
With production operations based in Baoding in North China's Hebei Province,
Orient Paper is located strategically close to the Beijing and Tianjin region,
home to a growing base of industrial and manufacturing activities and one of
the largest markets for paper products consumption in the country.
Orient Paper's production facilities are controlled and operated by its wholly
owned subsidiary Shengde Holdings, Inc., which in turn controls and operates
Baoding Shengde Paper Co., Ltd., and Hebei Baoding Orient Paper Milling Co.,
Ltd for manufacturing digital photo, printing and packaging paper.
Founded in 1996, ONP has been listed on the NYSE MKT Board since December
2009. (Please visit http://www.orientpaperinc.com.)
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to,
anticipated revenues from the digital photo paper business segment; the
actions and initiatives of current and potential competitors; the Company's
ability to introduce new products; the Company's ability to implement the
planned capacity expansion of corrugate medium paper; market acceptance of new
products; general economic and business conditions; the ability to attract or
retain qualified senior management personnel and research and development
staff; and other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current expectations,
assumptions, estimates and projections about the companies and the industry.
The Company undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes in its
expectations, except as may be required by law. Although the Company believes
that the expectations expressed in these forward looking statements are
reasonable, it cannot assure you that its expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.
SOURCE Orient Paper, Inc.
Contact: Orient Paper, Inc., +1-562-818-3817, email@example.com, or
Fleishman-Hillard, +852-2530-0228, firstname.lastname@example.org
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