Business News
Neenah Paper Announces 10 Percent Increase in Dividend
Monday 22. November 2010 - Neenah Paper, Inc. (NYSE:NP) announced today that its Board of Directors has approved a 10 percent increase in the annual dividend on the companys common stock, from $0.40 per share to $0.44 per share. The dividend will continue to be paid in four equal quarterly installments, with the next installment at the new higher rate of $0.11 per share scheduled to be paid in March 2011.
“We have always been committed to paying shareholders an attractive dividend. With the completion of our transformation out of pulp to focus solely on specialty products and premium papers, Neenah Paper is a company that generates strong and consistent cash flows and has a very sound capital structure. The decision by the Board to increase the dividend reflects our successful transformation and their confidence in our ability to continue this performance in the future,” said Sean Erwin, Chairman and Chief Executive Officer of the Company.