International Paper announced its board of directors has authorized a share repurchase program to acquire up to $2.0 billion of the company's common stock. The new authorization is in addition to $430 million remaining as of the end of the third quarter from a previous repurchase program. During the third quarter the company repurchased approximately $200 million in common stock at an average price of $52.03 per share. The company intends to continue repurchasing such shares in open market transactions. The company's board of directors also raised the quarterly common stock dividend by $0.025 per share or 5.3%, which brings the per share dividend to $2.00 annually. "The repurchase authorization and the dividend increase reflect our continued confidence in International Paper's long-term outlook and strong free cash flow generation," said Mark Sutton, Chairman and Chief Executive Officer. "Today's announcement is part of our commitment to return cash to shareholders through systematic share repurchases and a sustainable dividend policy." Click read more below for additional detail.
The Felix Schoeller Group is expanding its Facestock product portfolio. With PrimePaper F005 and F026, the company is launching two new product types for direct contact with food that are free of harmful substances and FSC certified. The speciality paper manufacturer with headquarters in Osnabrück has also produced a free report on the subject of inkjet printing. Interested parties can find valuable information on the growth trend in digital label printing and the interaction between ink and paper.
“We are delighted to introduce two new label solutions for food use to our customers,” says Senta Becker, Global Product Manager Label Printing at the Felix Schoeller Group about the new Facestock products PrimePaper F005 and PrimePaper F026. “Both products are free of harmful substances and FSC-certified,” Mrs Becker continues on the expansion of the product range of the Osnabrück-based speciality paper manufacturer, which offers Facestock materials for a wide range of applications, including labels for bottle labelling or packaging from the health & personal care and cosmetics sectors.
In addition to its food suitability, the new PrimePaper F005 is also compostable according to DIN EN13432 and therefore harmless for direct contact with food. It can be printed in gravure and flexo and is available in 60 and 80 grams.
PrimePaper F026 is available in the same grammages. The new inkjet printable Facestock product complements the broad portfolio of coated papers that the Felix Schoeller Group has developed specifically for inkjet printing. PrimePaper F026 is proving to be extremely suitable for individualized labels with smaller batch sizes.