MEMPHIS, Tenn., Oct. 8, 2019 /PRNewswire/ — International Paper (NYSE: IP) today declared a quarterly dividend of $ 0.5125 per share for the period from October 1, 2019, to December 31, 2019, inclusive, on its common stock, par value $1.00. This dividend is payable on December 16, 2019, to holders of record at the close of business on November 15, 2019.

International Paper logo. (PRNewsfoto/International Paper)

«This marks our tenth consecutive annual dividend increase and reinforces our policy of a strong and sustainable payout of 40 to 50% of free cash flow as an important part of our capital allocation strategy,» said Mark Sutton, Chairman and CEO.

Today the company also declared a regular quarterly dividend of $1.00 per share for the period from October 1, 2019, to December 31, 2019, inclusive, on the cumulative $4.00 preferred stock of the company. This dividend is also payable on December 16, 2019, to holders of record at the close of business on November 15, 2019.

About International Paper

International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, India and Russia. We produce corrugated packaging products that protect and promote goods, and enable world-wide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness; and papers that facilitate education and communication. We are headquartered in Memphis, Tenn., employ more than 52,000 colleagues and serve more than 25,000 customers in 150 countries. Net sales for 2018 were $23 billion. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com.

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SOURCE International Paper