Domtar downgraded to Neutral from Buy at Goldman Goldman lowered the Paper & Forest Prodcucts sector to Neutral and downgraded Domtar as it no longer expects producers to pass through uncoated freesheet price increases and views valuation as reasonable. Price target remains $89.
Domtar raises dividend 7%, increases stock buyback plan by $300M Domtar announced that its Board of Directors approved a 7% increase to its quarterly dividend from 37.5c per share to 40c per share on its common stock. The Board of Directors declared the dividend payable on April 15 to stockholders of record as of the close of business on April 2. In the context of its regular review of the capital allocation policy, the Board of Directors also authorized an increase of $300M in Domtar's share buyback program. This is in addition to the company's prior $1B repurchase authorization, under which approximately $83M remained available as of December 31, 2014.