International Paper Declares Quarterly Dividends on Common and Preferred Stock By Investing.com

MEMPHIS, Tenn. – International Paper (NYSE:IP), a leading global manufacturer of fiber-based products, today announced that the company has declared its quarterly common and preferred stock dividends. The Company declared a dividend of $0.4625 per share on its $1.00 par value common stock for the fourth quarter of 2024. This dividend is payable on December 16, 2024 to shareholders of record as of the close of business on November 15, 2024.

In addition, a quarterly dividend of $1.00 per share was declared on the Company's cumulative preferred stock valued at $4.00 for the same period. This will also be paid out on December 16th to shareholders registered until November 15th.

International Paper is a global leader in the paper and packaging industry and is considered one of the world's largest recyclers. With a workforce of around 39,000 employees worldwide, the company focuses on innovation and sustainability. The company operates manufacturing facilities in North America, Europe, Latin America and North Africa. In 2023, International Paper reported net sales of $18.9 billion.

The determination of these dividends is based on the company's performance and is part of its commitment to providing value to its shareholders. This information is based on a press release from International Paper.

In other recent news, International Paper has made significant progress in its acquisition of DS Smith Plc, a major development in the paper and packaging industry. The company has published a prospectus and plans to list its shares on the London Stock Exchange, a key step in the acquisition process. At the same time, DS Smith has set out the full terms of the takeover and called a shareholders' meeting to vote on the proposal.

As part of leadership changes, Andy Silvernail was named chairman of the board and Tom Hamic was named executive vice president and president of North American Packaging (NYSE:) Solutions. However, Senior Vice President Tom Plath is expected to leave the company at the end of the year.

Despite below-average earnings performance in the second quarter, International Paper is shifting toward customer-focused strategies and cost optimization. RBC Capital Markets raised the stock's price target from $52.00 to $56.00 and maintained an “Outperform” rating, reflecting confidence in the company's management and strategy. The company's EBITDA target is $4 billion and it plans to treat DS Smith as a separate platform in Europe, with industry growth forecast at 1% to 2% this year. These are some of the recent developments that shape the future of International Paper.

Investing Pro Insights

International Paper's recent dividend announcement is consistent with its long-standing commitment to shareholder returns. According to InvestingPro, the company has an impressive dividend yield of 3.84%, which is particularly attractive in the current market environment. Additionally, an InvestingPro tip shows that International Paper has paid dividends for 54 consecutive years, underscoring its reliability as an income-generating stock.

The company's financial health appears to be robust, with a market capitalization of $16.73 billion and revenue of $18.57 billion over the last twelve months (as of Q2 2024). While sales growth saw a slight decline of 8.25% during this period, quarterly sales growth of 1.11% in Q2 2024 suggests a possible turnaround.

Another InvestingPro tip points out that International Paper stock has seen a strong price increase over the past six months, producing a total return of 32.52% over that period. This positive momentum is also reflected in the stock trading near its 52-week high, at 94.91% of that peak.

For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could prove valuable in assessing International Paper's future prospects and market position.

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