Greif Inc (GEF) will raise its quarterly dividend by 4.5 percent to 46 cents per share in 2021. This is the first dividend hike by the producer of industrial packaging products and services since 2018.

The next GEF dividend of 46 cents quarterly is payable on October 1, 2021, to shareholders of record at the close of business on September 17, 2021. The new annual dividend yields 2.8% at a stock price of $65.68. The next ex-dividend date for Greif Inc stock is September 16, 2021.

"We are pleased that our Board of Directors approved this action," said Larry Hilsheimer, Greif's Executive Vice President and Chief Financial Officer. "The increased dividend is a reflection of the Board's confidence in Greif's financial strength and is an example of our continued commitment to returning capital to shareholders."

Greif, Inc. is a producer of industrial packaging products and services. produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The company also manufactures packaging accessories and provides filling, packaging and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States.