Welcome to our dedicated page for Sylvamo Corporation news (Ticker: $SLVM), a resource for investors and traders seeking the latest updates and insights on Sylvamo Corporation stock.
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Sylvamo's board of directors has declared a quarterly dividend increase of 50%, from $0.30 to $0.45 per share, applicable for the period between July 1, 2024, and September 30, 2024. The dividend will be payable on July 29, 2024, to shareholders of record by July 8, 2024. This marks the third increase in two years, reflecting the company's commitment to returning substantial cash to shareholders. CEO Jean-Michel Ribiéras expressed confidence in the company's future and the opportunities ahead.
Sylvamo (NYSE: SLVM) reported first quarter 2024 earnings meeting expectations. Net income of $43 million ($1.02 per diluted share) and Adjusted EBITDA of $118 million (13% margin). Commercial highlights include stable price and mix, decreased volume, improved costs, and outlook for second quarter with adjusted EBITDA of $145-160 million.
