WestRock Company (WRK) will raise its quarterly dividend by 7.5 percent to $0.43 per share. The new dividend will be paid on November 20, 2017 to shareholders of record on November 10, 2017. The new dividend yield for the company is 2.9%.

“We have increased the dividend twice since the creation of WestRock and by 15% over the past two years,” said Steve Voorhees, chief executive officer.  “The increase demonstrates the Board of Directors’ continued confidence in the company’s ability to generate increasing earnings and cash flow over the long term.”

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.