Feb 05, 2007. /Lesprom Network/. The board of directors of Temple-Inland Inc. declared on February 2 a regular quarterly dividend of $0.28 per common share, payable March 15, 2007, to shareholders of record March 1, 2007. This $0.28 per share quarterly dividend is a 12%, or $0.03 per share, increase over the prior quarterly dividend of $0.25 per share, and represents the fifth consecutive year that the dividend has been increased. In addition, the board of directors authorized the repurchase of up to five million shares of common stock. This new authorization represents approximately 5% of the company's outstanding shares, and is in addition to the 1.6 million shares remaining under an existing six million share repurchase program authorized in August 2006. In 2006, Temple-Inland repurchased 7.9 million shares. The repurchase will be accomplished from time to time through open market or privately negotiated transactions. Temple-Inland Inc. operates four business segments: corrugated packaging, forest products, real estate and financial services. Temple-Inland's common stock is traded on the New York Stock Exchange.