Corrugated Packaging segment operating income for third quarter 2011 was $84 million. The pre-tax cost of the previously disclosed operational upset at the Bogalusa paper mill was approximately $20 million in the quarter, $5 million of which is included in special items. Total mill downtime in third quarter 2011 was 58,000 tons, 54,000 tons of which was at the Bogalusa mill. Compared with second quarter 2011, recycled fiber and chemical costs were higher while costs for wood, freight and energy were lower. Box shipments were seasonally lower in the third quarter compared with the second quarter. Compared with third quarter 2010, recycled fiber, freight, chemical and energy costs were higher while the Company benefited from Box Plant Transformation II and lower virgin wood costs.
Temple-Inland (NYSE:TIN) hit a new 52-week high Friday as it is currently trading at $32, above its previous 52-week high of $31.94 with 5.7 million shares traded as of 3:45 p.m. ET. Average volume has been 1.5 million shares over the past 30 days.
Temple-Inland (NYSE:TIN) hit a new 52-week high Thursday as it is currently trading at $31.93, above its previous 52-week high of $31.92 with 1.6 million shares traded as of 3:20 p.m. ET. Average volume has been 1.5 million shares over the past 30 days.
The ex-dividend date for Temple-Inland (NYSE:TIN) is tomorrow, November 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $31.87 as of 9:30 a.m., the dividend yield is 1.6%.