Although Bemis (BMS) reported earnings below expectations last week, today the company announced a 10.5% increase in its quarterly dividend to 21 cents a share versus 19 cents a share in the same period last year. This represents the 24th consecutive year Bemis has increased its dividend. The estimated payout ratio on 2007 earnings of $2.02 is approximately 42% versus the 5-year average payout of 40%. Additionally, the company announced a 3 million share increase in its stock buyback program.
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