Rayonier Advanced Materials declared a quarterly dividend payable on August 15, 2017

Rayonier Advanced Materials declared a third quarter cash dividend of USD 2.00 per share of Mandatory Convertible Preferred Stock of the company. The dividend is payable on August 15, 2017 to the preferred stockholders of record on August 1, 2017.

The company’s board of directors also declared a third quarter cash dividend of USD 0.07 per share of common stock of the Company. The dividend is payable on September 29, 2017 to holders of common stock of record on September 15, 2017.

In 1Q2017 Rayonier Advanced Materials reported 7.8% decrease of net sales and 11.1% decrease of pro-forma EBITDA.

Earlier Rayonier Advanced Materials reaffirmed its commitment to acquire Tembec.

About Rayonier Advanced Materials:

The company is the leading global supplier of high-purity, cellulose specialties natural polymers for the chemical industry. It engineers natural polymeric chemical chains to create dozens of customized high-purity performance fibers at its plants in Florida and Georgia. The company’s facilities can produce up to 675,000 metric tons of cellulose specialties products annually for use in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. Upon completion of the previously announced strategic realignment of assets in Jesup, the company’s facilities will have the capacity to produce approximately 485,000 tons of cellulose specialties and approximately 245,000 tons of commodity products.

Source: Woodbizforum