Wausau Paper Corp. WPP today announced that its Board of Directors has approved the redemption of the rights accompanying its outstanding common stock under its Shareholder Purchase Rights Plan originally adopted in October 1998, and amended in October 2008. The Shareholder Purchase Rights Plan was set to expire by its terms on October 31, 2018. With this action, the Shareholder Purchase Rights Plan is effectively terminated immediately.
In addition, the Board of Directors today declared a cash dividend of $0.03 per share payable on February 17, 2015, to shareholders of record at the close of business on February 2, 2015. Of the $0.03 per share declared, $0.01 represents the per purchase right redemption price under the terminated Shareholder Purchase Rights Plan.
About Wausau Paper:
Wausau Paper produces and markets a
complete line of away-from-home towel and tissue products, as well as
soap and dispensing systems. The Company is listed on the NYSE under the
symbol WPP. To learn more about Wausau Paper visit wausaupaper.com.
Safe Harbor under the Private Securities Litigation Reform Act of
1995:
The matters discussed in this news release concerning the
Company's future performance or anticipated financial results are
forward- looking statements and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
statements involve risks and uncertainties which may cause results to
differ materially from those set forth in these statements. Among other
things, these risks and uncertainties include the strength of the
economy and demand for paper products, increases in raw material and
energy prices, manufacturing problems at Company facilities, and other
risks and assumptions described under “Information Concerning
Forward-Looking Statements” in Item 7 and in Item 1A of the Company's
Form 10-K for the year ended December 31, 2013. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events.
Wausau Paper Corp.
Investor and Media Contact:
Perry
Grueber, 715-692-2056
Director Investor Relations
pgrueber@wausaupaper.com
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