Daily Newsletter

21 September 2023

Daily Newsletter

21 September 2023

Richards Packaging Income Fund declares September cash distribution

Investors' anticipation of the distribution is accompanied by the complexity of potential withholding taxes this time.

Mohamed Dabo September 20 2023

Today, the Richards Packaging Income Fund has announced its cash distribution for the month ending 30 September 2023.

The distribution amounts to C$0.11 ($0.08) per unit. This payout will be directed to unitholders of record as of 29 September 2023 and will be disbursed on 13 October 2023.

Unitholders who are not residents of Canada should be aware that they may be obligated to cover withholding taxes related to any income distributions issued by the Fund.

This applies to both cash distributions and those in the form of additional units.

About Richards Packaging Income Fund

The Fund holds ownership of Richards Packaging, an entity that has been catering to a diverse customer base across North America since 1912.

Serving approximately 17,000 regional businesses spanning various sectors, including food, beverage, cosmetics, healthcare and more.

Richards Packaging underwent a transformation into an income fund through an initial public offering on 7 April 2004. The company has structured its website to include an investor relations segment, providing access to press releases, financial reports and corporate governance documentation.

This resource aims to assist investors in gaining a better understanding of the organisation. Richards Packaging Income Fund expresses gratitude to its stakeholders for their continued interest in the company.

Flavored alcoholic beverages forecasted to register the fastest growth within the alcoholic beverages packaging industry

The global alcoholic beverages packaging industry has grown to 445.4 billion units in 2022, with volumes forecasted to grow at a CAGR of ~2% by 2027. The Asia-Pacific represented the largest region in 2022, followed by the Americas. Glass was the most used pack material globally, followed by rigid metal and rigid plastics. Volume-wise, the industry was led by the beer & cider sector in 2022, while the flavored alcoholic beverages sector is forecast to register the fastest growth, followed by spirits and wine.

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