MEMPHIS, Tenn., Oct. 11, 2016 /PRNewswire/ -- International
Paper's (NYSE: IP) board of directors today increased the company's
regular quarterly dividend by 5 percent from $0.44 to $0.4625
per share for the period from October 1,
2016, to December 31, 2016,
inclusive, on its common stock, par value $1.00. This increased regular dividend is payable
on December 15, 2016, to shareholders
of record at the close of business on November 15, 2016.
"This dividend increase is IP's fifth-consecutive annual
increase and reflects our continued confidence in the
sustainability of our cash flow generation," said Mark Sutton, Chairman and CEO of International
Paper. "International Paper remains committed to a balanced capital
allocation strategy, which includes returning a significant portion
of our cash to our shareholders."
Additionally, the company also declared a regular quarterly
dividend of $1.00 per share for the
period from October 1, 2016, to
December 31, 2016, inclusive, on the
cumulative $4.00 preferred stock of
the company. This dividend is also payable on December 15, 2016, to holders of record at the
close of business on November 15, 2016.
Certain statements in this press release may be considered
forward-looking statements. These statements reflect management's
current views and are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in these statements. Factors which could cause actual
results to differ include but are not limited to: (i) the level of
our indebtedness and changes in interest rates; (ii) industry
conditions, including but not limited to changes in the cost or
availability of raw materials, energy and transportation costs,
competition we face, cyclicality and changes in consumer
preferences, demand and pricing for our products; (iii) global
economic conditions and political changes, including but not
limited to the impairment of financial institutions, changes in
currency exchange rates, credit ratings issued by recognized credit
rating organizations, the amount of our future pension funding
obligation, changes in tax laws and pension and health care costs;
(iv) unanticipated expenditures related to the cost of compliance
with existing and new environmental and other governmental
regulations and to actual or potential litigation; (v) whether we
experience a material disruption at one of our manufacturing
facilities; (vi) risks inherent in conducting business through
joint ventures; (vii) the receipt of regulatory approvals for our
pending transaction to purchase the pulp business of Weyerhaeuser
Company and the successful fulfillment or waiver of all other
closing conditions without unexpected delays or conditions; (viii)
the successful financing of the Weyerhaeuser transaction; (ix) the
failure to realize the expected synergies and cost-savings from the
Weyerhaeuser transaction or delay in realization thereof; and (x)
our ability to achieve the benefits we expect from all strategic
acquisitions, divestitures and restructurings. These and other
factors that could cause or contribute to actual results differing
materially from such forward-looking statements are discussed in
greater detail in the Company's Securities and Exchange Commission
filings. We undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
About International Paper
International Paper (NYSE:
IP) is a leading global producer of renewable fiber-based
packaging, pulp and paper products with manufacturing operations in
North America, Latin America, Europe, North
Africa, Asia and
Russia. We produce packaging products that enable world-wide
commerce; pulp for diapers, tissue and other personal hygiene
products; papers that drive communication; paper bags that carry
groceries; and paper cups and food containers. We are headquartered
in Memphis, Tenn., and employ
53,000 colleagues located in more than 24 countries. Net
sales for 2015 were $22 billion.
For more information about International Paper, our products
and global citizenship efforts, please visit
internationalpaper.com.
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SOURCE International Paper