MEMPHIS, Tenn., Oct. 14 /PRNewswire-FirstCall/ -- International Paper (NYSE: IP) today declared a regular quarterly dividend of $0.25 per share for the period from October 1, 2008, to December 31, 2008, inclusive, on its common stock, par value $1. This dividend is payable on December 15, 2008, to holders of record at the close of business on November 17, 2008.

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Today the company also declared a regular quarterly dividend of $1 per share for the period from October 1, 2008, to December 31, 2008, inclusive, on the cumulative $4 preferred stock of the company. This dividend is also payable on December 15, 2008, to holders of record at the close of business on November 17, 2008.

About International Paper

International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tenn., the company employs more than 65,000 people in more than 20 countries and serves customers worldwide. 2007 net sales were approximately $22 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.

SOURCE International Paper