Temple-Inland to Buy Back 6 Million Shares
Aug. 4, 2006 (Press Release) - Temple-Inland Inc. announced today that its Board of Directors authorized the repurchase of up to six million shares of common stock, which represents over 5% of the company's current outstanding shares.
Temple-Inland has repurchased 18 million shares since February 2005. The repurchase will be accomplished from time to time through open market or privately negotiated transactions.
The Board of Directors today also declared a regular quarterly dividend of $0.25 per common share, payable September 15, 2006, to shareholders of record September 1, 2006.
SOURCE: Temple-Inland Inc.