Timber REIT Rayonier Pays Steadily Increasing Dividends

Rayonier (RYN), a forest products real estate investment trust (REIT) with three core businesses, has a history of raising its regular quarterly dividend. Its regular quarterly dividend has increased from 8 cents in March 1994 to 50 cents in June 2008. In addition, RYN paid a special $4.41 dividend in October 2003.

With RYN, investors have exposure to Rayonier's timber operations (2.6 million acres of timberland in the U.S. and New Zealand), real estate (high-value properties in Georgia and Florida) and high-value specialty cellulose fibers.

Currently, RYN's dividend yield is 4.80 percent.

I (RAH) do not own RYN.

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Posted July 17, 2008.