Sealed Air Corporation (NYSE:SEE) announced today that its Board of Directors has increased the Company’s quarterly cash dividend by 20% to $0.12 per common share. The quarterly cash dividend will be payable on March 21, 2008 to stockholders of record at the close of business on March 7, 2008.
Commenting on the cash dividend increase, William V. Hickey, Sealed Air’s President and Chief Executive Officer, stated:
“The increase in the cash dividend reflects our confidence in the strength of the business, our opportunities for future growth and our commitment to our stockholders. We are pleased that we are able to continue to fund investments to expand our international footprint, broaden our technologies and accelerate product development, while continuing to generate significant cash flow and return cash to our stockholders.”
Business
Sealed Air is a leading global innovator and manufacturer of a wide range of packaging and performance-based materials and equipment systems that serve an array of food, industrial, medical, and consumer applications. Operating in 51 countries, Sealed Air's international reach generated revenue of $4.7 billion in 2007. With widely recognized brands such as Bubble Wrap® cushioning, Jiffy® protective mailers, Instapak® foam-in-place systems and Cryovac® packaging technology, Sealed Air continues to identify new trends, foster new markets, and deliver innovative solutions to its customers. For more information about Sealed Air, please visit the Company’s web site at www.sealedair.com.
Forward Looking Statements
Some of the statements made by the Company in this press release are forward-looking. These statements include comments as to future events and trends affecting the Company’s business, which are based upon management’s current expectations and are necessarily subject to risks and uncertainties, many of which are outside the control of the Company. Forward-looking statements can be identified by such words as “anticipates,” “estimates,” “expects,” “intends,” “plans,” “will” and similar expressions. The following are important factors that the Company believes could cause actual results to differ materially from those in the Company’s forward-looking statements: the success of the Company’s growth, profitability and global manufacturing strategies; changes in raw material and energy costs; the effects of animal and food-related health issues; market conditions; tax, interest and exchange rates; and legal proceedings. A more extensive list and description of these and other such factors can be found under the headings “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements,” which appear in the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission