Jacksonville, Florida, USA, 16 July 2010 -- (Business Wire) -- Rayonier (NYSE:RYN) announced today that the company's board of directors has declared a third quarter cash dividend of USD 0.50 per common share. The dividend is payable on 30 September 2010, to shareholders of record on 10 September 2010.

Rayonier is a leading international forest products company with three core businesses: Timber, Real Estate, and Performance Fibers. The company owns, leases, or manages 2.5 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, Georgia, and Daytona Beach, Florida. Its Performance Fibers business is the world's leading producer of high-value specialty cellulose fibers. Approximately 45% of the company's sales are outside the United States to customers in more than 40 countries. Rayonier is structured as a real estate investment trust. More information is available at www.rayonier.com.