International Paper Increases Dividend To 44 Cents a Share

Packaging and paper company International Paper Co. said Tuesday its board of directors increased its quarterly dividend by 10% to 44 cents a share. The dividend is payable on Dec. 15 to shareholders of record on Nov. 16. The increase "reflects our confidence in the sustainability of our free cash flow generation and the future performance of our company," Mark Sutton, the company's chairman and CEO, said in a statement. Shares of International Paper were flat in late trading Tuesday after ending the regular trading day up 0.2%.