ALPHARETTA, Ga.--(BUSINESS WIRE)-- Neenah Paper, Inc. (NYSE:NP), announced today that its Board of Directors has authorized a program that would allow the Company to repurchase up to $10 million of its outstanding common stock over the next twelve months. The Company has had a similarly-sized program in place over the preceding twelve months that has now expired. Under this prior plan, the Company had opportunistically repurchased approximately $4 million dollars of stock.
ALPHARETTA, Ga.--(BUSINESS WIRE)-- Neenah Paper, Inc. (NYSE:NP) announced today that its Board of Directors approved a 33 percent increase in the regular dividend on the Company's common stock. The annual dividend will increase from $0.60 to $0.80 per share and will continue to be paid in four equal quarterly installments. The first installment at the new rate of $0.20 per share is scheduled to be paid on September 3, 2013 to shareholders of record as of August 16, 2013. This follows the previous 25 percent increase that was effective with the first quarter 2013 dividend.
Vice President Financial Analysis & Investor Relations Investors@neenahpaper.com
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