Leading paper and packaging company International Paper’s (IP) operational performance helped it generate robust revenue growth in its last reported quarter. So, given the company’s solid growth prospects and dividend payouts, we think it could be wise to add the stock to one’s dividend portfolio. Read more.Incorporated in 1898, International Paper Company (NYSE:IP) in Memphis, Tenn., is a global leader in manufacturing sustainable fiber-based packaging and pulp products. It has facilities in North America, Latin America, North Africa, and Europe. The company offers corrugated packaging materials that protect and promote goods, and facilitates global commerce and pulp for diapers, tissue, and other personal hygiene items that promote health and wellness.
The company's shares have gained 14.4% in price over the past year and 6.9% year-to-date to close yesterday’s trading session at $53.16. Its strong top-line growth, driven by improvements across all business segments, has driven the stock’s rally this year.
IP ’s $1.85 forward annual dividend payout translates to a 3.48% yield versus the 1.81% industry average. This compares to its 4.05% four-year average dividend yield. IP’s dividend payouts have grown at a 2.6% CAGR over the past three years.