Jul 22, 2013. /Lesprom Network/. Rayonier announced that its Board of Directors voted to increase the company’s regular quarterly cash dividend by $.05 per common share, or 11.4%, from $.44 per share to $.49, effective for the 3Q distribution. 3Q dividend is payable September 30, 2013, to shareholders of record on Sept. 16, 2013, as the company said in the press release received by Lesprom Network.

“Rayonier’s businesses continue to provide steady and growing returns for our shareholders,” said Paul G. Boynton, Chairman, President and CEO. “This significant dividend increase reflects the successful start-up of our Cellulose Specialties Expansion project, strengthening timber and real estate markets and our confidence regarding future cash flows.”

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.