April 24, 2007 17:04 ET

Winpak's Board of Directors Boosts Dividend

WINNIPEG, MANITOBA--(CCNMatthews - April 24, 2007) - Winpak Ltd. (TSX:WPK) announces that at a meeting today, the Company's Board of Directors declared a dividend of three cents (3 cents, Canadian currency) per share. The dividend is payable July 12, 2007 to shareholders of record at the close of business on July 3, 2007. This dividend will be considered an eligible dividend for Canadian income tax purposes.

The dividend declared today represents an increase of 100 percent from the previous quarterly dividend of one and one half cents (1.5 cents, Canadian currency) per share that has been paid since October 2002. Winpak is confident that continuing strong cash flows will sustain a quarterly dividend of 3 cents per share. The Board will consider increases in the future if circumstances allow.

Winpak Ltd. manufactures and distributes high-quality packaging materials and related packaging machines. The Company's products are used primarily for the protection of perishable foods, beverages, and in health care applications.

Contact Information

  • Winpak Ltd.
    M.G. Johnston
    Vice President and CFO
    (204) 831-2254
    Winpak Ltd.
    B.J. Berry
    President and CEO
    (204) 831-2216