Sylvamo Announces Share Repurchase Program

Sylvamo’s (NYSE: SLVM) board of directors declared a quarterly dividend of $0.1125 per share for the period of July 1, 2022, to Sept. 30, 2022. The dividend is payable July 15, 2022, to holders of record at the close of business June 17, 2022.

The board also authorized a share repurchase program to acquire up to $150 million of the company’s common stock.

“Our strong free cash flow enables us to begin returning cash to shareowners,” said Jean-Michel Ribiéras, chairman and chief executive officer. “We also expect to continue paying down debt and will repurchase shares opportunistically to further increase our equity value.”

The repurchase program will follow applicable legal requirements, is subject to market conditions and other considerations, has no termination date and does not require the company to purchase shares.

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