Bemis Dividend Expected To Double After Amcor Deal Closure - Quick Facts

(RTTNews) - Bemis Co., Inc. (BMS) said Monday its shareholders will have the opportunity to benefit from the expected increased dividend, which nearly doubles from Bemis' current dividend, following the closure of the Amcor acquisition.

The deal will create pre-tax annual cost synergies of approximately $180 million identified as part of the transaction and also additional potential revenue synergies from cross-selling opportunities.

In early August, Bemis agreed to acquire Amcor Limited (AMCRY.PK) in an all-stock deal valued at about $6.8 billion. The Bemis Board unanimously supports the deal. As previously announced, the transaction is expected to close May 15, 2019.

Due to the pending merger with Amcor, Bemis is not providing 2019 guidance.