May 30, 2013. /Lesprom Network/. Neenah Paper, Inc. announced that its Board of Directors approved a 33% increase in the regular dividend on the Company's common stock. The annual dividend will increase from $0.60 to $0.80 per share and will continue to be paid in four equal quarterly installments, as the company said in a press release received by Lesprom Network. 

The first installment at the new rate of $0.20 per share is scheduled to be paid on September 3, 2013 to shareholders of record as of August 16, 2013. This follows the previous 25% increase that was effective with the 1Q 2013 dividend.

"Our strategy to grow in higher value performance and image products has resulted in profitable businesses that generate strong cash flows. We are committed to delivering value to our shareholders by returning a portion of these cash flows through a sustainable and attractive dividend," said John O'Donnell, CEO. "Over the past three years we have doubled our dividend as Neenah has grown, and our intent is to increase our dividend yield over the next two to three years from a historic level of around 2% to between three and 4%."

Neenah is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers.