
	As one of the largest private landowners in the U.S., we own, lease or manage approximately 2.6 million acres of working forests in the U.S and New Zealand to supply timber to a wide variety of markets including pulp, paper, lumber, renewable energy production and other wood products.

	&nbsp;

	At Rayonier, we evaluate each acre of our timberland to determine its greatest potential and highest and best use. In some cases, land that was once best suited for growing timber is now more valuable for residential, industrial, commercial or conservation use. Our real estate subsidiary provides added value by entitling or selling these properties.

	&nbsp;

	Rayonier is structured as a real estate investment trust and our stock is traded on the New York Stock Exchange under the symbol RYN. Historically, our strong stock performance has served shareholders well, with substantial appreciation and nine dividend increases in the last eleven years. &nbsp;Our current dividend is $1.96 per share.
