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,
“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.