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The Company bases its decisions on dividends on a comprehensive assessment of earnings trends, the level of internal reserves needed for future growth and the dividend payout ratio. For the first quarter 2003, the company's dividend payout ratio on FFO was 68. This healthy dividend increase reflects the confidence of our Board of Directors in our ability to generate strong cash flow that supports our objective of a 35 to 45 percent dividend payout ratio in addition to funding the current and future growth initiatives of Bemis' operations. |
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