May 16, 2008. /Lesprom.com/. Rayonier announced that the company’s Board of Directors has declared a second quarter cash dividend of $0.50 per common share. The dividend is payable June 30, 2008, to shareholders of record on June 9, 2008. Rayonier is an international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. The company owns, leases or manages 2.6 million acres of timber and land in the United States and New Zealand.