The Board of Directors of Deltic Timber Corporation (NYSE: DEL) announced today an increase in the Company’s quarterly dividend from $.075 per share to $.10 per share. In addition, payment of a dividend to stockholders of record as of March 4, 2013, with a payment date of March 15, 2013, was declared.
“The action taken today by Deltic’s Board of Directors to increase the Company’s quarterly dividend reflects its philosophy of making sustainable increases in distributions to our shareholders over time,” commented Ray C. Dillon, President and Chief Executive Officer. “With the ongoing recovery in residential housing, forest and wood products companies are poised to realize improvements in their financial performance, and resulting cash flows.”
The Board also established the record and meeting dates for the Company’s 2013 Annual Stockholders Meeting. The record date is March 15, 2013, and the meeting date is April 25, 2013.
Deltic Timber Corporation is a vertically integrated natural resources company focused on the efficient and environmentally responsible management of its land holdings. The Company owns over 450,000 acres of timberland, operated two sawmills, and is engaged in real estate development. Headquartered in El Dorado, Arkansas, the Company’s operations are located primarily in Arkansas and north Louisiana.