Business News

Bemis Company Declares Regular Quarterly Dividend; Approves Share Repurchase Authorization Totaling Ten Million Shares

Friday 05. November 2010 - The Board of Directors of Bemis Company, Inc. (NYSE:BMS) has declared a regular quarterly cash dividend of $0.23 per share. The dividend is payable December 1, 2010, to shareholders of record at the close of business on November 16, 2010.

In addition, the Board replaced the existing authorization for share repurchases totaling 3.1 million shares of Bemis Company stock with a new authorization for the repurchase of a total of 10 million shares. This approval enables Bemis to use a portion of its free cash flow to repurchase shares from time to time through open market purchases, privately negotiated transactions, accelerated share repurchase programs, or Rule 10b5-1 plans.

“At Bemis, we are focused on total return to shareholders through prudent investment of cash flow in growth oriented capital investments, accretive acquisitions, dividends, and share repurchases,” said Henry Theisen, Bemis Company President and Chief Executive Officer. “Today’s Board authorization further demonstrates our confidence in the ability of our business to continue to generate strong cash flows and to reach our long-term goals for earnings growth.”