International Paper (IP) Raises Quarterly Dividend 5.1% to $0.4625; 4% Yield

October 11, 2016 4:02 PM EDT

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International Paper (NYSE: IP) declared a quarterly dividend of $0.4625 per share, or $1.85 annualized. This is a 5.1% increase from the prior dividend of $0.44.

The dividend will be payable on December 15, 2016, to stockholders of record on November 15, 2016, with an ex-dividend date of November 10, 2016.

The annual yield on the dividend is 4 percent.

"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.

For a dividend history and other dividend-related data on International Paper (IP) click here.

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