International Paper announced recently that its Board of Directors has approved an increase in its quarterly common stock dividend from two and one-half cents ($0.025) per share to twelve and one-half cents ($0.125) per share, effective for the dividend payable June 15, 2010 to shareholders of record on May 17, 2010.
"The dividend increase reflects improving global economic conditions, increasing demand for IP's products and our outlook for free cash flow," said John Faraci, Chairman and CEO. "The dividend increase is also an important component of creating value for our shareholders."
The company declared a regular quarterly dividend of $0.125 per share for the period from April 1, 2010 to June 30, 2010, inclusive, on its common stock, par value $1. This dividend is payable on June 15, 2010, to holders of record at the close of business on May 17, 2010.
The company also declared a regular quarterly dividend of $1 per share for the period from April 1, 2010 to June 30, 2010, inclusive, on the cumulative $4 preferred stock of the company. This dividend is also payable on June 15, 2010, to holders of record at the close of business on May 17, 2010.
