Neenah, Inc. (NYSE: NP) announced that on November 21, 2019, its Board of Directors approved a four percent increase in the cash dividend on the Company’s common stock. The quarterly dividend will increase from $0.45 per share to $0.47 with the first payment at the new rate in March 2020. Neenah has consistently paid a dividend every quarter since the Company was first incorporated in 2004.
In addition, the Company announced authorization of a 2020 share repurchase plan for up to $25 million of its outstanding common stock. The current share repurchase plan will remain in effect through December 31, 2019. Purchases by the Company under the program would be made from time to time in the open market or in privately negotiated transactions in accordance with the requirements of applicable law. The timing and amount of any purchases will depend on share price, market conditions and other factors. The program does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time.