Rayonier Inc. (NYSE: RYN) declared a quarterly dividend of $0.49 per share, or $1.96 annualized. This is an 11.4% increase from the prior dividend of $0.44.

The dividend will be payable on September 30, 2013, to stockholders of record on September 16, 2013, with an ex-dividend date of September 12, 2013.

The annual yield on the dividend is 3.4 percent.

Rayonier’s businesses continue to provide steady and growing returns for our shareholders, said Paul G. Boynton, Chairman, President and CEO. This significant dividend increase reflects the successful start-up of our Cellulose Specialties Expansion project, strengthening timber and real estate markets and our confidence regarding future cash flows.

For a dividend history and other dividend-related data on Rayonier Inc. REIT (RYN) click here.