Sylvamo Corp. has announced that its board of directors has approved a quarterly cash dividend of $0.45 per common share, maintaining the company's previous dividend level.

The dividend is applicable for the period from July 1, 2026, to September 30, 2026, and will be payable on July 28, 2026, to shareholders of record as of the close of business on July 7, 2026. This marks the continuation of the $0.45 per share quarterly dividend for multiple consecutive quarters. Based on the current share price, the stock's annualized dividend yield is approximately 4.3%.

This dividend announcement follows the release of the company's first-quarter financial results. Sylvamo reported Q1 revenue of $755 million, slightly above market expectations of $741 million. However, adjusted operating earnings per share showed a loss of $0.53, a significant decline from the earnings per share of $0.68 in the same period last year and below the market expectation for a loss of $0.25 per share. CEO John Sims stated that 2026 remains a year of transformation, with the company experiencing short-term capacity constraints, including the termination of the Riverdale supply agreement and an upcoming extended shutdown at the Eastover mill.

The company's free cash flow for the first quarter was negative $59 million. Management clearly indicated that free cash flow generation is expected to be heavily weighted toward the second half of the year, as historically the vast majority of free cash flow has been generated in the latter half, a pattern anticipated to continue this year.

The company's high-return strategic investments at the Eastover mill are progressing as planned. This includes a paper machine optimization project scheduled for completion during a planned maintenance shutdown in the fourth quarter, as well as a new sheeting line set for installation in the third quarter and startup in the fourth quarter.

Regarding capital allocation, the company reiterated its core philosophy of maintaining a strong financial position, reinvesting in the business, and returning cash to shareholders. The company also recently completed a debt refinancing, extending the maturity of a loan due in 2027 to 2032, thereby enhancing financial flexibility.