MEMPHIS – International Paper (NYSE: IP), a global leader in sustainable packaging and fiber-based products, announced today its decision to pay quarterly dividends on its stocks. Shareholders of common stock will receive $0.4625 per share, while holders of the cumulative $4.00 preferred stock will be granted $1.00 per share. Both dividends apply to the period from April 1, 2024, to June 30, 2024, and will be payable on June 14, 2024.
The record date for determining shareholders eligible to receive these dividends is set for the close of business on May 24, 2024. This declaration follows International Paper's tradition of providing returns to its investors and reflects the company's financial policies aimed at delivering shareholder value.
International Paper, with a workforce of approximately 39,000 individuals worldwide, is known for its commitment to innovation and sustainability. The company operates manufacturing facilities across North America, Latin America, North Africa, and Europe.
In the previous year, International Paper reported net sales of $18.9 billion, underscoring its position as a significant player in the global market for packaging and pulp products.
The announcement of these dividends is based on a press release statement from International Paper and is intended to inform shareholders and the market of the upcoming payments. It forms part of the company's regular financial schedule and is consistent with its established dividend policy.
InvestingPro Insights
As International Paper (NYSE: IP) continues its tradition of delivering shareholder value through dividends, recent data from InvestingPro offers additional insights into the company's financial health and market performance.
With a market capitalization of $13.84 billion and a dividend yield of 4.68% as of the first half of 2024, International Paper stands out for its commitment to consistent shareholder returns. The company's dividend reliability is further underscored by an impressive track record of maintaining dividend payments for 54 consecutive years, a testament to its financial stability and prudent management.
InvestingPro Tips highlight that International Paper is trading at a high earnings multiple, with a P/E ratio of 79.94, suggesting a premium valuation compared to industry peers. Still, adjusted figures from the last twelve months as of Q1 2024 show a more moderate P/E ratio of 23.75.
This indicates that while the company may be valued highly based on its earnings, its adjusted earnings figures provide a different perspective that could be of interest to investors considering the stock's value proposition.
Moreover, the company's share price is trading near its 52-week high, at 96.54% of the peak, reflecting strong market confidence and a robust return over the last six months, with a total return of 19.45%.
For investors looking to delve deeper into International Paper's performance and potential, there are additional InvestingPro Tips available. Using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights and make more informed investment decisions.
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