May 2, 2012 / 1:28 PM / 6 years ago

Domtar increases quarterly dividend

(Reuters) - Canadian paper maker Domtar Corp UFS.TO (UFS.N) raised its quarterly dividend by 29 percent to 45 cents per share.

    The company, which reported a fall in its quarterly profit last week, said the dividend will be paid on July 16 to stockholders of record as on June 15.

    Last week Domtar said its first-quarter profit fell 54 percent to $28 million, or 76 cents per share, hurt by weak pulp prices and higher costs.

    Reporting by Maneesha Tiwari in Bangalore; Editing by Sreejiraj Eluvangal

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