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WestRock Company (WRK) will start paying a $0.375 per share quarterly dividend in August 2015. The paper and packaging company was formed by the merger of RockTenn and Meadwest Varco and will now pay a first dividend as a new company.

The first dividend of 37.5 cents per share will be paid on August 25, 2015 to shareholders of record on August 12, 2015. The ex-date for the first ever dividend by WRK is August 10, 2015.

WestRock Company is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The company has operating and business locations in North America, South America, Europe, Asia and Australia. WestRock also sells real estate primarily in the Charleston, SC region. WestRock was created in 2015 by the merger of RockTenn and Meadwest Varco (MWV). The company has 3 reportable segments: Corrugated Packaging, Consumer Packaging and Land and Development.