Lee Eugene Munson comments on Packaging Corporation of America. Published on Seeking Alpha

After taking a position in cardboard box maker Packaging Corporation of America (NYSE: PKG), a few things happened that surprised us. The first was a fast turnaround in management’s decision concerning the dividend. We saw the balance sheet was so-so, but over the years the firm told shareholders they were careful in targeting a sustainable dividend payout. In the January conference call, management was grilled on the subject and they expressed commitment to the dividend unless there was evidence that their business would see a multi-year contraction.
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Tags: contraction, cut dividend, economic cycle, GE, General Electric, Goldman Sachs, Packaging Corp. Of America, Paul T. Stecko, PKG, PKG conference call, Richard Skidmore