Tredegar declares special dividend

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Richmond-based Tredegar Corp. has declared a special dividend of 75 cents per share on the company’s common stock.
The dividend is payable on Dec. 14 to shareholders of record at the close of business on Dec. 7.

In August, the company raised its quarterly dividend to 6 cents a share, a 33 percent increase on an annualized basis. The move marked its second dividend increase in less than two years.

“This special dividend, as well as the recent increase in our regular quarterly dividend, rewards our shareholders as we have generated strong cash flow,” Nancy Taylor, Tredegar’s president and chief executive officer, said in statement. “With our solid financial position and a balanced approach to allocating capital, we will continue to consider acquisitions, investments in our businesses, share buybacks and dividends as ways to generate shareholder value.”

Tredegar is primarily a manufacturer of plastic films and aluminum extrusions. It had 2011 sales of $798 million.

The company has about 2,000 employees and operates manufacturing facilities in North America, South America, Europe and Asia.

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