Sylvamo Climbs On Decision To Buy Back Shares

Shares of Sylvamo Corporation (SLVM) are up more than 5% Wednesday morning after the company announced an additional share buyback of $150 million.

At the end of the second quarter, the company had about $30 million remaining in the $150 million share repurchase program announced in May last year.

The company also declared a dividend of $0.30 per share for the period of October 1, to December 31, as well as a special dividend of $0.30 per share, payable on October 17, to shareholders of record on October 3.

SLVM is at $44.57 currently. It has traded in the range of $33.30 – $57.38 in the last 52 weeks.

Source: Read Full Article