Rayonier Announces Eleven Percent Dividend Increase
22 Julho 2013 - 10:07AM
Business Wire
Rayonier (NYSE:RYN) announced today that its board of directors
voted to increase the company’s regular quarterly cash dividend by
$.05 per common share, or 11.4% percent, from $.44 per share to
$.49, effective for the third quarter distribution.
The third quarter dividend is payable Sept. 30, 2013, to
shareholders of record on Sept. 16, 2013. This is the company’s
ninth dividend increase in the last 11 years.
“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.”
Rayonier will announce second quarter earnings on July 25. The
company will host a conference call and live webcast with the
investment community at 2 p.m. EDT the same day to discuss the
results. Investors may listen to the conference call by dialing
888-989-7543, passcode: Rayonier, or by logging onto
http://www.rayonier.com.
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 2.7 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 50 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.
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