International Paper (IP) Hikes Quarterly Dividend Payout
Zacks Investment Research | Oct 12, 2017 08:45AM ET
Leading packaging and paper manufacturer, International Paper Company (NYSE:IP) recently increased its quarterly dividend by 2.6% year over year to 47.5 cents per share. The proposed dividend for fourth-quarter 2017 is payable on Dec 15 to shareholders of record at the close of business on Nov 15.
Based on the closing price of $57.39 on Oct 11, the increased dividend offers a yield of 3.3%. A steady dividend payout is part of the long-term strategy of International Paper to provide attractive risk-adjusted returns to its stockholders. In addition, decent dividend increases at periodic intervals have been one of the company’s most attractive features.
The current dividend increase further reflects the inherent strength of International Paper’s business and due diligence of management to generate long-term profitability and sustainable free cash flow.
Historically, International Paper has consistently returned significant cash to its shareholders through dividends and share repurchases. As of Jun 30, 2017, the company has repurchased 44.6 million shares at an average price of $46.40 each, for approximately $2.1 billion. The company has underperformed the Original post
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