Sylvamo Announces 50% Quarterly Dividend Increase

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.

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05/17/2024 - 04:15 PM EDT

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Sylvamo's (NYSE: SLVM) board of directors declared a quarterly dividend of $0.45 per share for the period of July 1, 2024, to Sept. 30, 2024. The dividend is payable July 29, 2024, to holders of record at the close of business July 8, 2024.

“I’m pleased our board approved increasing our quarterly dividend to 45 cents per share. This is the third increase in the last two years, highlighting our commitment to return substantial cash to shareowners," said Jean-Michel Ribiéras, chairman and chief executive officer. "We remain confident in our future and motivated by the opportunities that lie ahead.”

The quarterly dividend is increasing 50% from $0.30 per share to $0.45 per share.

About Sylvamo

Sylvamo (NYSE: SLVM) is the world's paper company with mills in Europe, Latin America and North America. Our vision is to be the employer, supplier and investment of choice. We transform renewable resources into papers that people depend on for education, communication and entertainment. Headquartered in Memphis, Tennessee, we employ more than 6,500 colleagues. Net sales for 2023 were $3.7 billion. For more information, please visit Sylvamo.com.

Forward Looking Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any or all forward-looking statements may turn out to be incorrect, and our actual actions and results could differ materially from what they express or imply, because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control. These risks, uncertainties, and other factors include those disclosed in the heading "Risk Factors" in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) and in our subsequent filings with the SEC, available on our website, Sylvamo.com. These forward-looking statements reflect our current expectations, and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.