Cascades Inc. shareholders elect board of directors

KINGSEY FALLS, QC - Cascades Inc. (TSX: CAS), a company specializing in eco-friendly recovery, packaging, and hygiene solutions, announced the election results for its board of directors following its Annual General Meeting of Shareholders on Thursday. All eleven nominees were elected by a majority of votes cast by shareholders. The company’s stock has shown strong momentum, currently trading at $27.95, near its 52-week high of $28.10.

The directors elected represent a diverse group with varying backgrounds and expertise. Among the elected directors, Mélaine Dunn and Elif Lévesque received the highest percentage of votes in favor, with 97.84% and 97.83% respectively. The election results were confirmed by electronic ballot and proxy votes, with the full breakdown of votes filed with the Canadian Securities Regulators. According to InvestingPro data, the company has demonstrated solid performance with an 11.9% total return year-to-date.

Cascades, established in 1964, has maintained a focus on sustainable and innovative product offerings across its nearly 70 production units in North America. Employing around 10,000 individuals, the company prides itself on its long-standing commitment to recycling and research and development efforts that align with its management philosophy.

The election of the board is a key component of the company’s governance, ensuring that Cascades can continue its mission to provide value-added solutions while promoting the well-being of people, communities, and the environment. The company’s shares are publicly traded on the Toronto Stock Exchange, where investors can follow the performance under the ticker symbol CAS.

This announcement is based on a press release statement from Cascades Canada ULC, detailing the voting outcomes for the director elections.

In other recent news, Cascade Acquisition Corp reported a strong financial performance for the fourth quarter of 2022, showcasing significant improvements in key financial metrics. The company achieved a 20% year-over-year increase in EBITDA, reaching $146 million, while also reducing its net loss per share from $0.57 to $0.13. Cascade maintained stable sales compared to the previous quarter, with a 6% increase year-over-year. The company is also targeting $80 million in non-core asset sales to streamline operations and focus on debt reduction. Amidst economic uncertainties, Cascade has paused specific financial guidance but remains committed to strategic operational enhancements. The company is preparing mitigation strategies for potential U.S.-Canada trade tensions, which could impact operations. Analysts from firms like TD Cowen have been closely monitoring Cascade’s strategic initiatives and potential tariff impacts.

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