KapStone Paper And Packaging Announces Two-For-One Stock Split
NORTHBROOK, Ill., Dec. 11, 2013
NORTHBROOK, Ill., Dec. 11, 2013 /PRNewswire/ --KapStone Paper and Packaging
Corporation (NYSE: KS) ("KapStone" or "the Company") today announced that its
Board of Directors has approved a two-for-one (2:1) split of the Company's
common stock at today's regularly scheduled board meeting. The stock split
will be structured in the form of a stock dividend.
Roger W. Stone, Chairman and Chief Executive Officer, stated, "We are
delighted that KapStone stock has reached the level that we believe a stock
split will be beneficial to our shareholders by increasing liquidity. This
step signifies the strength that KapStone has built and our dedication to
continue to grow."
The record date for the stock split is December 23, 2013. Shareholders of
record as of such date will receive one additional share of common stock for
each share that they own. The distribution of the new shares will be made on
January 7, 2014, and trading on a split-adjusted basis is expected to begin on
or about January 8, 2014.
KapStone had approximately 47.8 million shares of common stock outstanding as
of December 11, 2013. The stock split will increase the common shares
outstanding to approximately 95.6 million.
About the Company
Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is
the fifth largest producer of containerboard and corrugated packaging products
and is the largest kraft paper producer in the United States. The Company is
the parent company of KapStone Kraft Paper Corporation and KapStone Container
Corporation which includes four paper mills and 22 converting plants,
respectively, across the US. The business employs approximately 4,500 people.
SOURCE KapStone Paper and Packaging Corporation
Contact: Andrea K. Tarbox, Vice President and Chief Financial Officer,
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