International Paper Buyback
OLI recorded this information on 10/12/2021
Company:
International Paper
Buyback:
IP buyback
$Amount Authorized:
$3,300,000,000
Buyback Details:
International Paper today announced its board of directors has authorized a share repurchase program to acquire up to $2 billion of the company's common stock. The new authorization is in addition to $1.3 billion remaining as of the end of the third quarter from a previous repurchase authorization. During the third quarter the company repurchased approximately $212 million in common stock at an average price of $59.13 per share. The company intends to continue repurchasing such shares in open market transactions. The company's board of directors also decreased the quarterly common stock dividend by $0.05 per share or 9.8%, which brings the per share dividend to $1.85 annually.
International Paper is a producer of renewable fiber-based packaging and pulp products with manufacturing operations in North America, Latin America, Europe and North Africa. Co.'s businesses are separated into two segments: Industrial Packaging, which manufactures containerboard, such as linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and Global Cellulose Fibers, which is a producer of fluff pulp which is used to make absorbent hygiene products like baby diapers, feminine care, adult incontinence and other non-woven products.
International Paper SEC Filing Email Alerts Service
Preferred: INPAP
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Avg. Broker Rec.
  
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Buy (2.62 out of 4) 9th percentile
(ranked lower than approx. 91% of all stocks covered)
Analysts' Target Price: IP Stock Forecast Based on Zacks ABR data; powered by Xignite |
