Sealed Air Announces Two-for-One Stock Split and 33% Cash Dividend Increase.ELMWOOD PARK Elmwood Park, village (1990 pop. 23,206), Cook co., NE Ill., a suburb of Chicago; inc. 1914. It is chiefly residential. , N.J. -- Sealed Air Sealed Air Corporation(NYSE: SEE) is a company that makes a variety of packaging materials, systems and equipment. Its brands include Bubble Wrap, Cryovac, Instapak, Shanklin and Jiffy Mailer. They have recently moved headquarters to Elmwood Park, New Jersey. Corporation (NYSE NYSE See: New York Stock Exchange :SEE) announced today that its Board of Directors has declared a two-for-one stock split to be effected in the form of a stock dividend payable on March 16, 2007 to stockholders of record of outstanding shares of its common stock at the close of business on March 2, 2007. The Company's Board of Directors also increased the Company's quarterly cash dividend by 33% to $0.20 per common share, declaring a quarterly cash dividend payable on the pre-split shares of the Company's common stock on March 16, 2007 to stockholders of record at the close of business on March 2, 2007. Commenting on the stock split and the cash dividend increase, William V William V may refer to:
"Our increased cash dividend reflects our confidence in the strength of our business and our commitment to our stockholders. The stock split will enable us to add to the supply of our common stock and thereby increase our overall liquidity in the market. We are encouraged about the growth opportunities for our business as we continue to generate significant cash flow to fund investments in new technologies and production capacity, while also returning cash to our stockholders." Business Sealed Air is a leading global manufacturer of a wide range of food and protective packaging materials and systems including such widely recognized brands as Bubble Wrap bubble wrap n. See bubble pack. bubble wrap Noun a type of polythene wrapping containing many small air pockets, used to protect breakable goods [R] cushioning, Jiffy A fraction of time that has numerous interpretations depending on who uses it. It may refer to one computer clock cycle, one nanosecond, one millisecond or one AC power cycle. There may be others. See nanosecond. 1. [R] protective mailers and Cryovac[R] food packaging products. 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: changes in raw material and energy costs; the effects of animal and food-related health issues; import/export restrictions; market conditions; the evolution and timing of the Company's global manufacturing strategy; tax, interest and exchange rates; the success of new products; and legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. . 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. or Quarterly Report on Form 10-Q Form 10-Q See 10-Q. as filed with the Securities and Exchange Commission. |
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