UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 1-3203
CHESAPEAKE CORPORATION
Incorporated under the laws I.R.S. Employer
of Virginia Identification No. 54-0166880
1021 East Cary Street
P. O. Box 2350
Richmond, Virginia 23218-2350
Telephone Number (804) 697-1000
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange on
Title of each class which registered
Common Stock, par value $1 New York Stock Exchange
Preferred Stock Purchase Rights New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of the Form 10-K
or any amendment to this Form 10-K. [X]
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes X No
The aggregate market value on February 11, 1997, of the voting stock held by
non-affiliates of the registrant was $681 million. In determining this
figure, the registrant has assumed that all of its directors and officers
are affiliates. This assumption shall not be deemed conclusive
for any other purpose.
23,432,395 shares of the registrant's common stock, par value $1, were
outstanding as of February 11, 1997.
Portions of the registrant's Annual Report to Stockholders for the year
ended December 31, 1996 are incorporated in Parts I, II and IV by reference.
Portions of the registrant's definitive Proxy Statement for the annual meeting
of stockholders to be held on April 23, 1997, are incorporated in Part III
by reference.
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
CHESAPEAKE CORPORATION
(Registrant)
February 11, 1997 By /s/ CHRISTOPHER R BURGESS
Christopher R. Burgess
Controller
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant
and in the capacities indicated.
By By /s/WALLACE STETTINIUS
M. Katherine Dwyer Wallace Stettinius
Director Director
By /s/ J. CARTER FOX By /s/ JOHN HOYT STOOKEY
J. Carter Fox John Hoyt Stookey
Chairman of the Board Director
of Directors; President &
Chief Executive Officer
By /s/ ROBERT L. HINTZ By /s/ RICHARD G. TILGHMAN
Robert L. Hintz Richard G. Tilghman
Director Director
By /s/ WILLIAM D. McCOY By /s/ JOSEPH P. VIVIANO
William D. McCoy Joseph P. Viviano
Director Director
By By /s/ HARRY H. WARNER
C. Elis Olsson Harry H. Warner
Director Director
By /s/ JOHN W. ROSENBLUM By /s/ WILLIAM T. TOLLEY
John W. Rosenblum William T. Tolley
Director Chief Financial Officer
By /s/ FRANK S. ROYAL By /s/ CHRISTOPHER R. BURGESS
Frank S. Royal Christopher R. Burgess
Director Controller
Each of the above signatures is affixed as of February 11, 1997.
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<NAME> CHESAPEAKE CORP /VA/
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<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 9,800,000
<SECURITIES> 0
<RECEIVABLES> 153,900,000
<ALLOWANCES> 4,700,000
<INVENTORY> 134,400,000
<CURRENT-ASSETS> 325,800,000
<PP&E> 1,619,800,000
<DEPRECIATION> 756,300,000
<TOTAL-ASSETS> 1,290,200,000
<CURRENT-LIABILITIES> 166,800,000
<BONDS> 499,400,000
<COMMON> 23,400,000
0
0
<OTHER-SE> 445,700,000
<TOTAL-LIABILITY-AND-EQUITY> 1,290,200,000
<SALES> 1,158,600,000
<TOTAL-REVENUES> 1,172,000,000
<CGS> 843,000,000
<TOTAL-COSTS> 1,084,300,000
<OTHER-EXPENSES> 6,200,000
<LOSS-PROVISION> 500,000
<INTEREST-EXPENSE> 33,900,000
<INCOME-PRETAX> 47,100,000
<INCOME-TAX> 17,000,000
<INCOME-CONTINUING> 30,100,000
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 30,100,000
<EPS-PRIMARY> 1.27
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