Aug 07, 2006. /Lesprom Network/. Temple-Inland Inc. announced on August 4 that its board of directors authorized the repurchase of up to six million shares of common stock, which represents over 5% of the company's current outstanding shares. Temple-Inland has repurchased 18 million shares since February 2005. The repurchase will be accomplished from time to time through open market or privately negotiated transactions. The board of directors also declared a regular quarterly dividend of $0.25 per common share, payable September 15, 2006, to shareholders of record September 1, 2006. Temple-Inland Inc. operates four business segments: corrugated packaging, forest products, real estate and financial services. The company's 2.0 million acres of forestland are certified as managed in compliance with ISO 14001 and in accordance with the Sustainable Forestry Initiative(R) (SFI) Standard of the Sustainable Forestry Board to ensure forest management is conducted in a scientifically sound and environmentally sensitive manner. Temple-Inland's common stock is traded on the New York Stock Exchange and NYSE Arca Inc.