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

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

International Paper Announces $2.0 Billion Share Repurchase Program; Increases Cash Dividend 5.3% to $2.00 per share annually

October 9, 2018 4:15 PM EDT

MEMPHIS, Tenn., Oct. 9, 2018 /PRNewswire/ -- International Paper (NYSE: IP) today 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 company's board of directors also... More