International Paper Announces $1.5 Billion Share Repurchase Program

International Paper recently announced its board of directors has authorized a share repurchase program to acquire up to $1.5 billion of the company's common stock. The company intends to repurchase such shares over the next 2-3 years in open market repurchase transactions. The company also announced its board of directors is raising the company's quarterly dividend by 17 percent.