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TIS > SEC Filings for TIS > Form 8-K on 20-Nov-2012All Recent SEC Filings

Show all filings for ORCHIDS PAPER PRODUCTS CO /DE



Other Events

Item 8.01. Other Events.

On November 15, 2012, Orchids Paper Products Company (the "Registrant") announced that on November 14, 2012, at a regularly scheduled meeting of the Board of Directors (the "Board"), the Board authorized an increase in the Registrant's quarterly cash dividend from $0.20 per outstanding share to of $0.25 per outstanding share of the Registrant's common stock. The dividend will be paid to stockholders of record at the close of business on December 3, 2012. The Registrant expects to pay this dividend on December 18, 2012. A copy of the press release issued by the Registrant on November 15, 2012 is filed herewith as Exhibit 99.1 and is incorporated in this Item 8.01 by reference.

At the November 14 meeting, the Board also approved a resolution to propose to the shareholders at the next annual meeting an amendment to the Registrant's bylaws to allow a special meeting of the shareholders to be called upon written request from holders of record of at least 25% of the voting power of the outstanding capital stock of the Registrant entitled to vote on the matter or matters to be brought before the proposed special meeting. The Registrant intends to include this Board proposal in its Definitive Proxy Statement for the next annual meeting of shareholders.

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