Consumables

Neenah Paper Announces Dividend Increase of 33 Percent – The Second Dividend Increase in 2013

Friday 31. May 2013 - Neenah Paper, Inc. (NYSE:NP) announced today that its Board of Directors approved a 33 percent increase in the regular dividend on the Company's common stock.

The annual dividend will increase from $0.60 to $0.80 per share and will continue to be paid in four equal quarterly installments. The first installment at the new rate of $0.20 per share is scheduled to be paid on September 3, 2013 to shareholders of record as of August 16, 2013. This follows the previous 25 percent increase that was effective with the first quarter 2013 dividend.
“Our strategy to grow in higher value performance and image products has resulted in profitable businesses that generate strong cash flows. We are committed to delivering value to our shareholders by returning a portion of these cash flows through a sustainable and attractive dividend,” said John O’Donnell, Chief Executive Officer. “Over the past three years we have doubled our dividend as Neenah has grown, and our intent is to increase our dividend yield over the next two to three years from a historic level of around two percent to between three and four percent.”