WestRock Company (WRK) will raise its quarterly dividend by 5.8 percent to $0.455 per share in the fourth quarter of 2018. This marks the 3rd consecutive year of dividend increases by the paper packaging company.

The quarterly dividend of $0.455 per share will be paid to stockholders of record as of the close of business on November 9, 2018 and will be paid on November 19, 2018.

A new annualized dividend of $1.82 per share for WRK yields 4.4% at a stock price of $41.55.

“WestRock has returned $2.3 billion in capital to stockholders and increased our dividend by more than 20% over the last three years,” said Steve Voorhees, chief executive officer. “Today’s dividend increase demonstrates our confidence in WestRock’s ongoing ability to generate strong 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 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.