Jul 28, 2011. /Lesprom Network/. Rayonier reported 2Q net income of $56 million, compared to $39 million in the prior year period. For the first six months, net income increased to $115 million, compared to $96 million in 2010, as the company said in a statement received by Lesprom Network. Cash provided by operating activities was $195 million for the first six months of 2011 compared to $356 million for the prior year period. Year-to-date cash available for distribution1 (CAD) was $134 million versus $303 million in the first half of 2010. The prior year period included the receipt of $189 million related to the alternative fuel mixture credit (AFMC). “We are very pleased to report another quarter of strong operating results, further supporting the recent announcement of an 11% increase in our dividend and a three-for-two stock split,” said Lee M. Thomas, Chairman and CEO. “In Forest Resources, we sold more volume from our coastal Washington timberlands into attractively priced Asian log markets, driving improved operating income despite losses from recent Southeastern fires. In Performance Fibers, we continue to sell all available production to meet strong global demand for our high purity cellulose specialties.” “Our businesses continue to execute well, creating strong operating cash flows. We are affirming our earnings guidance of $2.85 to $3.10 per share, excluding special items, and we still expect CAD of $285 million to $310 million, substantially above our increased dividend,” commented Thomas. “Expansion of our timberland holdings is our top priority for strategic capital, and we are seeing more opportunities for acquisitions in the Southeast. In Performance Fibers, the recent decision to convert our absorbent materials line to produce an additional 190,000 tons of cellulose specialties is a key part of our strategy to remain the global leader in this high value segment,” Thomas said. “We are executing our strategy to create superior value over time for our shareholders by providing an attractive, growing dividend and by investing strategic capital to strengthen and expand our business.” 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 2.5 million acres of timber and land in the United States and New Zealand.