Rayonier to Split Stock 3 for 2, Increase Dividend by 11.1% to $0.40

Rayonier RYN announced today that its board of directors has approved a three-for-two stock split and an 11.1 percent increase in the quarterly cash dividend to 40 cents per common share on a post-split basis. The split will be effected in the form of a stock dividend by issuing one-half additional share for each share held. The additional shares will be distributed August 24, 2011, to shareholders of record on August 10, 2011. The 40 cents per share third quarter cash dividend will be paid on September 30, 2011, to shareholders of record on September 16, 2011.