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Fly News Breaks for October 9, 2019
Oct 9, 2019 | 07:27 EDT
Stephens analyst Mark Connelly called International Paper's announcement of a 2.5% dividend increase "a small but encouraging step" at a time when its CEO must convince investors that the company will be more shareowner-friendly than it has been in the past and investor confidence in the company's best business is flagging. Investors should see the dividend hike as reassuring and part of an encouraging pattern of capital allocation since Mark Sutton took over, said Connelly, who keeps a $50 price target and Equal Weight rating on International Paper shares.
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