Domtar announces an increase to its regular quarterly dividend
MONTREAL, May 1, 2013
(All financial information is in U.S. dollars unless otherwise noted.)
(NYSE: UFS) (TSX: UFS)
MONTREAL, May 1, 2013 /PRNewswire/ - Domtar Corporation (NYSE: UFS) (TSX: UFS)
today announced that its Board of Directors approved a 22% increase in its
quarterly dividend (from $0.45 per share to $0.55 per share) on its common
stock (NYSE: UFS) (TSX: UFS) as well as on the exchangeable shares of Domtar
(Canada) Paper Inc. (TSX: UFX).
"The Board's decision to increase the dividend recognizes the continued
progress we are making on our strategic roadmap. Our commitment is to return
the majority of free cash flow to shareholders and our aspiration is to grow
the dividend to a level that balances our strategic objectives of bringing
growth and stability to our earnings and creating shareholder value," said
John D. Williams, President and Chief Executive Officer.
The Board of Directors declared the dividend payable on July 15, 2013 to
stockholders of record as of the close of business on June 14, 2013.
The Company is holding its Annual Meeting of Stockholders today at 9:00 a.m.
(ET). Investors and other interested parties are invited to listen to the live
webcast at www.domtar.com.
Domtar Corporation (NYSE: UFS) (TSX: UFS) designs, manufactures, markets and
distributes a wide variety of fiber-based products including communication
papers, specialty and packaging papers and adult incontinence products. The
foundation of its business is a network of world class wood fiber converting
assets that produce papergrade, fluff and specialty pulps. The majority of its
pulp production is consumed internally to manufacture paper and consumer
products. Domtar is the largest integrated marketer of uncoated freesheet
paper in North America with recognized brands such as Cougar^®, Lynx^® Opaque
Ultra, Husky^® Opaque Offset, First Choice^® and Domtar EarthChoice^®. Domtar
is also a leading marketer and producer of a complete line of incontinence
care products marketed primarily under the Attends^® brand name. Domtar owns
and operates Ariva^®, a network of strategically located paper and printing
supplies distribution facilities. In 2012, Domtar had sales of US$5.5 billion
from some 50 countries. The Company employs approximately 9,300 people. To
learn more, visit www.domtar.com.
All statements in this news release that are not based on historical fact are
"forward-looking statements." While management has based any forward-looking
statements contained herein on its current expectations, the information on
which such expectations were based may change. The Company is under no
obligation, and expressly disclaims such obligation, to update, alter or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise. These forward-looking statements
rely on a number of assumptions concerning future events and are subject to a
number of risks, uncertainties, and other factors, many of which are outside
of our control that could cause actual results to materially differ from such
statements. Such risks, uncertainties, and other factors include, but are not
necessarily limited to, those set forth under the captions "Forward-Looking
Statements" and "Risk Factors" of the latest Annual Report on Form 10-K filed
with the Securities and Exchange Commission as periodically updated by
subsequently filed Form 10-Q's.
SOURCE DOMTAR CORPORATION
MEDIA AND INVESTOR RELATIONS
Corporate Communications and Investor Relations
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