Sealed Air Corporation (SEE) will raise its quarterly dividend by 25 percent to $0.20 per share in 2021. This is the first dividend hike announced by the packaging company since 2016. At the time the dividend was hiked by 23.1 percent.

The next dividend is payable on June 18, 2021 to stockholders of record at the close of business on June 4, 2021. A new annual dividend rate of 80 cents per share will yield 1.5% at a stock price of $55 for SEE.

“Our confidence in the SEE Operating Engine, which is driving strong growth and cash generation, allows us to raise our dividend. Looking forward, we will continue our balanced approach to capital allocation of returning capital to shareholders, while investing in growth priorities of automation, digital and sustainability,” said Ted Doheny, Sealed Air’s President and CEO.

Sealed Air Corporation provides packaging solutions for the food, e-Commerce, electronics and industrial markets. The company's brands include CRYOVAC® brand food packaging, SEALED AIR® brand protective packaging, AUTOBAG® brand automated systems, BUBBLE WRAP® brand packaging and SEETM Automation solutions. Sealed Air has been paying a dividend to shareholders every year since 2006.