Forestry products company International Paper (NYSE:IP) will pay a second-quarter dividend of $0.30 per share, the same rate it's paid for the past two quarters after it increased it 14% from $0.2625 per share, the company announced yesterday.
The board of directors said the quarterly dividend is payable on June 14 to the holders of record at the close of business on May 24. The paper maker has paid a dividend quarterly every year since 1970.
The regular dividend payment equates to a $1.20-per-share annual dividend yielding 2.5% based on the closing price of International Paper's stock on May 14.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.