WestRock Company (WRK) will raise its quarterly dividend by 6.7 percent to $0.40 per share. The next quarterly dividend of $0.40 per share will be paid to stockholders of record as of the close of business on November 21, 2016 and will be paid on November 30, 2016.

"This dividend increase demonstrates the confidence of the Board of Directors in the strength of our company's capability to generate cash flow over the long-term," said Steve Voorhees, WestRock chief executive officer. The dividend yield for the paper and packaging company is 3.5%.

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 formed in 2015 following the merger of RockTenn and MWV. The company has 3 reportable segments: Corrugated Packaging, Consumer Packaging and Land and Development.