Welcome to our dedicated page for Sylvamo news (Ticker: SLVM), a resource for investors and traders seeking the latest updates and insights on Sylvamo stock.
Sylvamo Corporation reports developments for an uncoated papers company with mills in Europe, Latin America and North America. The company produces uncoated freesheet papers for copy and printer use, commercial printing, converting and specialty applications, and also produces market pulp.
Recurring news for SLVM includes quarterly and annual earnings, regional segment conditions, mill operations, strategic investments, product supply and cost pressures tied to energy, chemicals, diesel and ocean freight. Company updates also cover dividend declarations, capital allocation, cash returns to shareowners, investor conference participation, and board or executive leadership changes.
Sylvamo's board of directors has declared a quarterly dividend increase of 50%, from $0.30 to $0.45 per share, applicable for the period between July 1, 2024, and September 30, 2024. The dividend will be payable on July 29, 2024, to shareholders of record by July 8, 2024. This marks the third increase in two years, reflecting the company's commitment to returning substantial cash to shareholders. CEO Jean-Michel Ribiéras expressed confidence in the company's future and the opportunities ahead.
Sylvamo (NYSE: SLVM) reported first quarter 2024 earnings meeting expectations. Net income of $43 million ($1.02 per diluted share) and Adjusted EBITDA of $118 million (13% margin). Commercial highlights include stable price and mix, decreased volume, improved costs, and outlook for second quarter with adjusted EBITDA of $145-160 million.
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