Sylvamo Announces Dividend, Share Repurchase Program
Sylvamo's board declared a quarterly dividend of $0.1125 per share for July 1 to September 30, 2022, payable on July 15, 2022.
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Board of Directors Initiates Quarterly Dividend,
Authorization to Acquire up to
The board also authorized a share repurchase program to acquire up to
"Our strong free cash flow enables us to begin returning cash to shareowners," said Jean-Michel Ribiéras, chairman and chief executive officer. "We also expect to continue paying down debt and will repurchase shares opportunistically to further increase our equity value.”
The repurchase program will follow applicable legal requirements, is subject to market conditions and other considerations, has no termination date and does not require the company to purchase shares.
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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, including the statement concerning paying down debt. 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005247/en/
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