Business
CCL Reports 10% Growth in Operating Income in Second Quarter 2008 and Declares Dividend
TORONTO, Aug. 7 /CNW/ - August 7, 2008 Dear Shareholder:
About this update from Ccl Industries Inc. Class A
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 7 /CNW/ -\n\n\nAugust 7, 2008\n\n\nDear Shareholder:\n\n\nPlease find enclosed the Second Quarter 2008 Investor Package for CCL\nIndustries Inc.\n\n\nThe economy and stock markets in Canada, the United States and Europe are\ncurrently in turmoil. Although we are concerned by these cyclical events, CCL\ncontinues to build its specialty packaging franchise and take advantage of\nglobal market opportunities. We continue to believe that providing a\nsustainable and growing dividend provides value to our shareholders. We also\nbelieve that buying back our stock with available cash when the market reduces\nour stock price to below normal valuation levels is a good long-term\ninvestment for our shareholders. CCL cannot control the world economy or stock\nmarket fluctuations, but our dividend policy and share repurchase plans\nprovide a level of stability for our stock price and long-term value for our\nshareholders.\n\n\nCash flow generated by our business remains firm and the Company is\nsolidly positioned financially. As a result, your Board of Directors is\npleased to declare the quarterly dividend at the level approved early in 2008\nwhen it was increased by 17%. The quarterly dividend is $0.14 per Class B\nnon-voting share and $0.1275 per Class A voting share and is payable on\nSeptember 30, 2008 to shareholders of record as at September 16, 2008.\n\n\nConference calls with our stakeholders are held following the release of\nour quarterly results and when significant events require additional\ncommunication. These calls are made to ensure that all stakeholders are kept\ncurrent with our business developments and to support our good corporate\ngovernance practices. Presentation materials used during conference calls and\nformal investor meetings are posted on our website along with audio recordings\nof the meetings. Instructions for accessing these services are set out at the\nend of this earnings release.\n\n\nWe encourage all shareholders to access our website www.cclind.com on a\nregular basis for investor and company news. If you would like to have future\nPress Releases e-mailed to you at the time they are issued, please complete\nthe Information Request Form under the "Investors" tab ("Contact Us" icon) on\nour website or write to us at CCL to the attention of Christene Duncan at the\...