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Packaging Corp. raises annual dividend 28% to $1.60 per share from $1.25 per share

Packaging Corporation of America announced that it intends to increase the quarterly cash dividend on its company stock to an annual payout of $1.60 per share from $1.25 per share, a 28% increase. The first quarterly dividend of 40c per share will be paid on July 15 to shareholders of record as of June 14.