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Rayonier Announces Tax Treatment of 2008 Dividends

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  Published in Business and Finance on Wednesday, January 14th 2009 at 15:19 GMT, Last Modified on 2009-01-14 15:20:10 by Market Wire
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JACKSONVILLE, Fla.--([ BUSINESS WIRE ])--Rayonier (NYSE:RYN) announced today the tax reporting information for its 2008 cash dividends on its common stock.

Rayonier's 2008 dividends of $2.00 per share are classified for income tax purposes as follows: $1.818960 (90.9480%) Capital Gain Distribution, taxed at a maximum rate of 15 percent; and $0.181040 (9.0520%) Return of Capital.

The following table summarizes the income tax treatment of the company's 2008 dividends:

Taxability of the company's 2008 common stock dividends should not be presumed to be indicative or predictive of the taxability of future company dividends.

Shareholders are encouraged to consult with their tax advisers as to their specific tax treatment of Rayonier dividends.

About Rayonier

Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate and Performance Fibers. The company owns, leases or manages 2.6 million acres of timber and land in the United States and New Zealand. The company's holdings include approximately 200,000 acres with residential and commercial development potential along the fast-growing Interstate 95 corridor between Savannah, Georgia, and Daytona Beach, Florida. Its Performance Fibers business is the world's leading producer of high-value specialty cellulose fibers. Approximately 40 percent of the company's sales are outside the U.S. to customers in more than 50 countries. Rayonier is structured as a real estate investment trust. More information is available at [ www.rayonier.com ].