International Paper Increases Annual Cash Dividend by 5%

International Paper’s (IP) board of directors increased the company’s regular quarterly dividend by 5% from $0.44 to $0.4625 per share for the period from Oct. 1, 2016, to Dec. 31, 2016, inclusive, on its common stock, par value $1.00. This increased regular dividend is payable on Dec. 15, 2016, to shareholders of record at the close of business on Nov. 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 Oct. 1, 2016, to Dec. 31, 2016, inclusive, on the cumulative $4.00 preferred stock of the company. This dividend is also payable on Dec. 15, 2016, to holders of record at the close of business on Nov. 15, 2016.