The Board of Directors of AptarGroup, Inc. (NYSE: ATR) today declared a quarterly cash dividend of $0.30 per share. The payment date is August 17, 2016, to stockholders of record as of July 27, 2016.
Also, after 35 years of service with AptarGroup, President and CEO, Stephen Hagge has informed the Board of Directors that he plans to retire at the end of the year. Mr. Hagge intends to continue to serve as a director of AptarGroup. The Board is conducting a formal evaluation of internal and external candidates before naming a successor.
Hagge commented, “It’s not an easy decision to retire from such a great company like Aptar. I’ll be 65 at the end of the year, I have good health, and I’m happy to be moving on to the next phase of my life where I can spend more time with my family. It’s been a tremendously exciting and rewarding career and I am very fortunate to have been a part of the stellar long-term performance of this organization. We have a very talented and experienced management team and an exceptionally dedicated global workforce. I expect a smooth transition once a successor has been named by the Board. I have no doubt that Aptar will continue to lead the industry in dispensing and sealing solutions for many years to come. I plan to continue to serve on our Board and I look forward to contributing to our future success.”
Board Chairman, King Harris, said, “Steve has been an integral part of our senior leadership team for over three decades. Under his guidance as CEO, Aptar completed two of the largest acquisitions in our history and the Company achieved record annual sales and earnings per share. We are grateful for his leadership and dedication over the many years which helped make Aptar the leader in our industry.”
Harris concluded, “The Board is very confident that our experienced senior management team will ensure a smooth and successful transition for the new CEO. We are conducting a thorough evaluation of internal and external candidates and expect to announce a successor soon.”
As previously announced, AptarGroup will hold a conference call on Friday, July 29, 2016, at 8:00 a.m. Central Time to discuss the Company’s second quarter results for 2016. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page at www.aptar.com. Replay of the conference call can also be accessed for a limited time on the Investor Relations page of the website.
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