International Paper Plans to Seek Higher Dividend This Year

International Paper Co (IP), the world’s largest manufacturer of cardboard shipping containers, plans to ask the company’s board to raise the dividend later this year.

Chief Executive Officer John Faraci said he expects the company will have sufficient cash flow to approve the higher payout. He spoke today in a telephone interview after the Memphis-based company reported its fourth-quarter earnings.

To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net