CHINO, Calif. - Karat Packaging Inc. (NASDAQ: NASDAQ:KRT), a distributor and manufacturer of disposable foodservice products, has announced an increase in its quarterly dividend from $0.30 to $0.35 per share. The raised dividend is scheduled to be paid to shareholders on May 24, 2024, with a record date set for May 17, 2024.
The company's decision to increase the dividend reflects its commitment to providing value to its shareholders and confidence in its financial position. The announcement comes as Karat Packaging (NYSE:PKG) continues to serve a broad market in the United States, supplying products such as containers, tableware, and cutlery, as well as its eco-friendly Karat Earth® line made from renewable resources.
In addition to its product offerings, Karat Packaging also provides customized services, including product development, design, printing, and logistics, to meet the specific needs of its national and regional restaurant customers and other foodservice providers.
This dividend payment marks a continuation of the company's practice of returning capital to its stockholders and represents a positive signal for investors looking for steady income streams. The increase also suggests that Karat Packaging is maintaining a stable financial foundation, enabling it to reward its investors with higher payouts.
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