International Paper (IP) Raises Quarterly Dividend 5.3% to $0.50; Announces New $2B Buyback

International Paper (NYSE: IP) declared a quarterly dividend of $0.50 per share, or $2 annualized. This is a 5.3% increase from the prior dividend of $0.475. The dividend will be payable on December 14, 2018, to stockholders of record on November 15, 2018, with an ex-dividend date of November 14, 2018. The annual yield on the dividend is 4.5 percent.

International Paper also announced its board of directors has authorized a share repurchase program to acquire up to $2.0 billion of the company's common stock. The new authorization is in addition to $430 million remaining as of the end of the third quarter from a previous repurchase program. During the third quarter the company repurchased approximately $200 million in common stock at an average price of $52.03 per share. The company intends to continue repurchasing such shares in open market transactions.

"The repurchase authorization and the dividend increase reflect our continued confidence in International Paper's long-term outlook and strong free cash flow generation," said Mark Sutton, Chairman and Chief Executive Officer. "Today's announcement is part of our commitment to return cash to shareholders through systematic share repurchases and a sustainable dividend policy."

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

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