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Rayonier raises quarterly dividend 8%

Rayonier Inc.'s board approved a quarterly cash dividend of 27 cents per share, an increase of 8% from 25 cents per share in the previous quarter.

President and CEO David Nunes cited cash flow growth, a strong capital structure and confidence in the sustainability of the company's core business as leading to the increase in the dividend.

The company will pay the dividend June 29 to shareholders of record as of June 15.