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JACKSONVILLE, Fla.--([ BUSINESS WIRE ])--Rayonier (NYSE:RYN) announced today that the companyas board of directors has declared a first quarter cash dividend of 40 cents per common share. The dividend is payable on March 30, 2012 to shareholders of record on March 16, 2012.

For further information, visit the companyas website at [ www.rayonier.com ]. Complimentary copies of Rayonier press releases and other financial documents are available by calling 1-800-RYN-7611.

About Rayonier

Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.7 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 Interstate 95 corridor between Savannah, Ga., and Daytona Beach, Fla. Its Performance Fibers business is one of the world's leading producers of high-value specialty cellulose fibers, which are used in products such as filters, pharmaceuticals and LCD screens. Approximately 45 percent of the company's sales are outside the U.S. to customers in approximately 40 countries. Rayonier is structured as a real estate investment trust. More information is available at[ www.rayonier.com ].