Rayonier to Split Stock 3 for 2, Increase Dividend 11 Percent
25 Julho 2011 - 9:00AM
Business Wire
Rayonier (NYSE:RYN) announced today that its board of directors
has approved a three-for-two stock split and an 11.1 percent
increase in the quarterly cash dividend to 40 cents per common
share on a post-split basis. The split will be effected in the form
of a stock dividend by issuing one-half additional share for each
share held. The additional shares will be distributed August 24,
2011, to shareholders of record on August 10, 2011. The 40 cents
per share third quarter cash dividend will be paid on September 30,
2011, to shareholders of record on September 16, 2011.
Lee Thomas, Chairman and CEO, said, “The stock split recognizes
the significant appreciation in value of Rayonier’s common shares
in the past two years and should further improve trading liquidity
and volume. The increased dividend reflects our strong operating
performance and confidence in continued growth.
“We expect significant value creation in our Performance Fibers
business through the conversion of our absorbent materials line to
produce high purity cellulose specialties in order to satisfy
global demand growth in this very specialized market. In Forest
Resources, our diversified timberland holdings position us well to
capitalize on increasing export demand and an eventual domestic
economic recovery. Our significant cash balances and strong balance
sheet provide continuing strategic and operational flexibility,”
Thomas concluded.
For further information, visit the company’s website at
www.rayonier.com. Complimentary copies of Rayonier press releases
and other financial documents are available by calling
1-800-RYN-7611.
About Rayonier
Rayonier is a leading international forest products company with
three core businesses: Forest Resources, Real Estate and
Performance Fibers. The company owns, leases or manages 2.5 million
acres of timber and land in the United States and New Zealand. The
company's holdings include approximately 200,000 acres with
residential and commercial development potential along the
Interstate 95 corridor between Savannah, Ga., and Daytona Beach,
Fla. Its Performance Fibers business is one of the world's leading
producers of high-value specialty cellulose fibers, which are used
in products such as filters, pharmaceuticals and LCD screens.
Approximately 45 percent of the company's sales are outside the
U.S. to customers in approximately 40 countries. Rayonier is
structured as a real estate investment trust. More information is
available at www.rayonier.com.
Certain statements in this document regarding anticipated
financial outcomes including earnings guidance, if any, business
and market conditions, outlook and other similar statements
relating to Rayonier's future financial and operational
performance, are "forward-looking statements" made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and other federal securities laws. These
forward-looking statements are identified by the use of words such
as "may," "will," "should," "expect," "estimate," "believe,"
"anticipate" and other similar language. Forward-looking statements
are not guarantees of future performance and undue reliance should
not be placed on these statements.
The following important factors, among others, could cause
actual results to differ materially from those expressed in
forward-looking statements that may have been made in this
document: the effect of the current economic downturn, which is
impacting many areas of our economy, including the housing market,
availability and cost of credit, and demand for our products and
real estate; the cyclical and competitive nature of the industries
in which we operate; fluctuations in demand for, or supply of, our
forest products and real estate offerings; entry of new competitors
into our markets; changes in global economic conditions and world
events, including political changes in particular regions or
countries; the uncertainties of potential impacts of
climate-related initiatives; changes in energy and raw material
prices, particularly for our Performance Fibers and wood products
businesses; impacts of the rising cost of fuel, including the cost
and availability of transportation for our products, both
domestically and internationally, and the cost and availability of
third party logging and trucking services; unanticipated equipment
maintenance and repair requirements at our manufacturing
facilities; the geographic concentration of a significant portion
of our timberland; our ability to identify, finance and complete
timberland acquisitions; changes in environmental laws and
regulations,
including laws regarding air emissions and water discharges,
remediation of contaminated sites, timber harvesting, delineation
of wetlands, and endangered species, that may restrict or adversely
impact our ability to conduct our business, or increase the cost of
doing so; adverse weather conditions, natural disasters and other
catastrophic events such as hurricanes, wind storms and wildfires,
which can adversely affect our timberlands and the production,
distribution and availability of our products and raw materials
such as wood, energy and chemicals; interest rate and currency
movements; our capacity to incur additional debt, and any decision
we may make to do so; changes in tariffs, taxes or treaties
relating to the import and export of our products or those of our
competitors; the ability to complete like-kind exchanges of
property; changes in key management and personnel; our ability to
continue to qualify as a REIT and to fund distributions using cash
generated through our taxable REIT subsidiaries; changes in tax
laws that could reduce the benefits associated with REIT status;
and potential legal challenges that could reduce the benefits
associated with the alternative fuel mixture credit and the
cellulosic biofuel producer credit discussed in the Company's most
recent annual report on Form 10-K.
In addition, specifically with respect to our Real Estate
business, the following important factors, among others, could
cause actual results to differ materially from those expressed in
forward-looking statements that may have been made in this
document: the cyclical nature of the real estate business
generally, including fluctuations in demand for both entitled and
unentitled property; the current downturn in the housing market,
the lengthy, uncertain and costly process associated with the
ownership, entitlement and development of real estate, especially
in Florida, which also may be affected by changes in law, policy
and political factors beyond our control; the potential for legal
challenges to entitlements and permits in connection with our
properties; unexpected delays in the entry into or closing of real
estate transactions; the existence of competing developers and
communities in the markets in which we own property; the pace of
development and the rate and timing of absorption of existing
entitled property in the markets in which we own property; changes
in the demographics affecting projected population growth and
migration to the Southeastern U.S.; changes in environmental laws
and regulations, including laws regarding water withdrawal and
management and delineation of wetlands, that may restrict or
adversely impact our ability to sell or develop properties; the
cost of the development of property generally, including the cost
of property taxes, labor and construction materials; the timing of
construction and availability of public infrastructure; and the
availability of financing for real estate development and mortgage
loans.
Additional factors are described in the Company's most recent
Form 10-K and 10-Q reports on file with the Securities and Exchange
Commission. Rayonier assumes no obligation to update these
statements except as is required by law.
Rayonier (NYSE:RYN)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Rayonier (NYSE:RYN)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024