(All financial information is in U.S. dollars unless otherwise noted.)
(NYSE: UFS) (TSX: UFS)
MONTREAL, May 1, 2013 /CNW Telbec/ - 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
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