Neenah Paper, Inc. (NYSE:NP) announced today that its Board of Directors approved a 25 percent increase in the regular dividend on the Company's common stock. The annual dividend will increase from $0.48 to $0.60 per share and will continue to be paid in four equal quarterly installments. The first installment at the new rate of $0.15 per share is scheduled to be paid on March 4, 2013 to shareholders of record as of February 15, 2013.
“We are committed to a sustainable and competitive dividend as one of the ways we will deploy cash and provide shareholders with an attractive return,” said John O’Donnell, Chief Executive Officer. “The decision to significantly increase the dividend reflects our higher cash flow generation following the successful integration of brands acquired from Wausau as well as our confidence in the future of Neenah.”
About Neenah Paper, Inc.
Neenah Paper is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Products are marketed under well-known brands such as CLASSIC®, ASTROBRIGHTS®, ENVIRONMENT®, CRANE®, ROYAL SUNDANCE®, KIMDURA®, Gessner®, JET-PRO® SofStretch(TM) and varitess®. Neenah Paper is headquartered in Alpharetta, Georgia and sells products in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information about Neenah Paper can be found at the company's web site, www.neenah.com.