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ACCO BRANDS FOR IMMEDIATE RELEASE News Release ● ACCO BRANDS POSTS STRONG THIRD QUARTER 2021 SALES AND PROFIT INCREASES ; RAISES DIVIDEND LAKE ZURICH , ILLINOIS , October 26 , 2021 - ACCO Brands Corporation ( NYSE : ACCO ) today announced its third quarter results for the period ended September 30 , 2021 . Net sales were $ 527 million , up 19 percent ; comparable sales up 4 percent , all segments up EPS was $ 0.21 versus $ 0.20 in prior year ; adjusted EPS was $ 0.33 versus $ 0.25 in 2020 Higher tax rate impacted EPS and adjusted EPS by $ ( 0.02 ) and $ ( 0.03 ) , respectively Gross margin improved 120 bps Generated 3Q operating cash flow of $ 99 million ; reduced debt $ 117 million Raised dividend 15 percent " We posted another solid quarter based on improving demand worldwide , with organic sales growth in all segments . EMEA posted double - digit comparable sales growth ; back - to - school sell - out was strong in North America ; International showed improvement ; and PowerA added $ 57 million . We are managing inflation and the supply chain disruptions well , and expanded our gross margin in the quarter . We remain confident in our strategy and believe that we will deliver record sales and strong profit performance in 2021 , " said Boris Elisman , Chairman and Chief Executive Officer of ACCO Brands . Third Quarter Results Net sales increased 18.6 percent to $ 526.7 million from $ 444.1 million in 2020 primarily due to $ 56.8 million from PowerA , solid organic growth , and favorable foreign exchange of $ 6.6 million , or 1.5 percent . Comparable sales were $ 463.3 million , up 4.3 percent as a result of improving consumer demand , more schools and offices reopening , and higher pricing . Gross profit rose as a result of higher volume and cost savings . Gross margin increased 120 basis points , primarily from a better sales mix and cost savings , partially offset by higher logistics and commodity costs , which were not fully offset by price increases . The Company reported operating income of $ 38.6 million compared with $ 34.3 million in 2020. The increase primarily was due to higher sales , an improved gross margin , and favorable foreign exchange 1