Richmond, Virginia, USA, 17 November 2010 -- The board of directors of MeadWestvaco Corporation (NYSE: MWV) declared an increase in the company’s quarterly cash dividend to USD 0.25 per share of common stock, commencing with the payment on 01 December 2010, to stockholders of record at the close of business on 26 November 2010.
“The increase in MWV’s dividend is a direct result of the actions we’ve taken to improve profitability, strengthen cash flow, and enhance our financial position,” said John A. Luke, Jr., chairman and chief executive officer of MWV. “This decision underscores the strong confidence the board of directors has in our strategy for profitable growth and our ability to deliver higher returns for shareholders on a sustainable basis.”
MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s most admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and commercial print industries. The company's businesses also include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation, and development opportunities. With 19,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the seventh consecutive year. For more information, visit www.mwv.com.