Jul 23, 2012. /Lesprom Network/. Rayonier announced that its Board of Directors voted to increase the company’s regular quarterly cash dividend by $.04 per common share, or 10%, from $.40 per share to $.44, effective for the 3Q distribution. The 3Q dividend is payable Sept. 28, 2012, to shareholders of record on Sept. 14, 2012. This is the company’s eighth dividend increase in the last ten years. “Providing a secure and growing dividend to Rayonier shareholders remains a key strategic objective,” said Paul G. Boynton, Chairman, President and CEO. “This increase reflects our strong financial position and the continuing confidence we have in our businesses’ ability to generate increasing cash flows.” Rayonier’s dividend is expected to be characterized as long-term capital gain and taxed at a maximum rate of 15% for most U.S. taxpayers. Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.7 million acres of timber and land in the United States and New Zealand.