Alpharetta, Georgia, USA, 18 November 2010 -- (BUSINESS WIRE) -- Neenah Paper, Inc. (NYSE:NP) announced today that its board of directors has approved a 10% increase in the annual dividend on the company's common stock, from USD 0.40 per share to USD 0.44 per share. The dividend will continue to be paid in four equal quarterly installments, with the next installment at the new higher rate of USD 0.11 per share scheduled to be paid in March 2011.
"We have always been committed to paying shareholders an attractive dividend. With the completion of our transformation out of pulp to focus solely on specialty products and premium papers, Neenah Paper is a company that generates strong and consistent cash flows and has a very sound capital structure. The decision by the board to increase the dividend reflects our successful transformation and their confidence in our ability to continue this performance in the future," said Sean Erwin, chairman and chief executive officer of the company.
Neenah Paper is a leading global manufacturer of premium, performance-based papers and specialty products used in a variety of applications including filtration, printing and writing, and as backing and component materials for various specialized industrial and consumer applications. Based in Alpharetta, Georgia, the company has paper manufacturing operations in the United States and Germany. Additional information about Neenah Paper can be found at www.neenah.com.