Tupperware Brands Corporation Declares Increased Quarterly Dividend

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Nov 04, 2010, 11:38 ET

ORLANDO, Fla., Nov. 4, 2010 /PRNewswire-FirstCall/ -- Tupperware Brands Corporation (NYSE: TUP) announced that its board of directors declared today a 30 cent dividend, payable to shareholders of record as of December 17, 2010 that will be paid on January 4, 2011. The $1.20 per share annual dividend implied reflects a 20% increase in the quarterly dividend from 25 cents per quarter paid during 2010, and represents a payout ratio on an annual basis of 34% based on the mid point of the Company's GAAP diluted earnings per share outlook range provided last month.

Rick Goings, Chairman and CEO commented, "This increase, as well as our share repurchase program, allow us to continue our efforts for shareholders to participate in our growth. We are executing our business models well, and going forward expect to be able to achieve our longer range annual local currency sales growth target of 6-8%, and to continue to generate strong cash flow. This gives us the flexibility to allocate capital internally for growth and to our shareholders, while maintaining conservative leverage profile."

Tupperware Brands Corporation is a portfolio of global direct selling companies, selling innovative, premium products across multiple brands and categories through an independent sales force of 2.6 million. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products for consumers through the Armand Dupree, Avroy Shlain, BeautiControl, Fuller Cosmetics, NaturCare, Nutrimetics, Nuvo and Swissgarde brands.

SOURCE Tupperware Brands Corporation