Investors

Press Release

« Back

Rayonier Reports Fourth Quarter 2002 Earnings

January 21, 2003

JACKSONVILLE--(BUSINESS WIRE)--Jan. 21, 2003--Rayonier (NYSE:RYN) today reported fourth quarter net income of $12.9 million, or 46 cents per share, compared to $15.7 million, or 56 cents per share, in third quarter 2002 and $7.9 million, or 28 cents per share, in fourth quarter 2001. Net income for full year 2002 was $54.2 million, or $1.92 per share, compared to $57.6 million, or $2.09 per share, in 2001.

Lee Nutter, Chairman, President and CEO said: "Despite difficult economic conditions, once again we had a solid year due to continued strong demand for our cellulose specialty products and contributions from the sale of higher value lands. In addition, our strong cash flow throughout the year enabled us to reduce debt by 25 percent, further strengthening our balance sheet."

Fourth quarter 2002 income from continuing operations was $12.8 million, or 46 cents per share, compared to $15.6 million, or 55 cents per share, in third quarter 2002 and $7.3 million, or 25 cents per share, in fourth quarter 2001. Income from continuing operations for full year 2002 was $54.9 million, or $1.95 per share, compared to $56.9 million, or $2.06 per share, in 2001. Fourth quarter results were below third quarter largely due to lower land sales, higher performance fibers' manufacturing costs, an increase in disposition reserves and higher interest costs, partially offset by increased U.S. timber volume and favorable tax benefits. Results were above fourth quarter 2001 primarily due to performance fibers' lower manufacturing costs and increased sales volumes, higher Northwest U.S. timber prices and favorable tax benefits, partially offset by lower land sales.

Fourth quarter 2002 included several items of note: a $2.7 million increase ($1.7 million after tax) in disposition reserves related to closed facilities in the Northwest U.S.; tax deficiency interest of $3.5 million ($2.3 million after tax) for 1996-1999 tax audits; and approximately $5 million in earnings mainly due to tax benefits related to the appreciation of the New Zealand dollar. The net impact of these items on income from continuing operations was a favorable $1 million, or 4 cents per share.

Sales of $286 million were $7 million below third quarter but $32 million above fourth quarter 2001. The decrease from third quarter was primarily due to lower absorbent materials volume and land sales, partially offset by higher timber volume. The year over year improvement was primarily due to higher cellulose specialties volume and increased Southeast U.S. timber volumes and land sales. Sales in 2002 were $1.1 billion, essentially in line with 2001.

Cash flow provided by operating activities for the year was $250 million compared to $228 million in 2001. Debt at year-end was $641 million, resulting in a debt-to-capital ratio of 47.5 percent.

EBITDA in 2002 was $308 million compared to $330 million in 2001. Free cash flow for the year was $142 million compared to $126 million in 2001. Net debt at year-end was $627 million, $67 million lower than third quarter and $215 million below year-end 2001. The net debt-to-capital ratio of 46.9 percent reflects a decline of 1.6 and 7.4 percentage points from third quarter 2002 and year-end 2001, respectively. (Each of these non-GAAP measures is defined in Exhibit A.)

Performance Fibers

Sales of $134 million were $6 million below third quarter primarily due to lower absorbent materials volume, partly offset by higher cellulose specialties prices. Operating income of $7 million was $4 million below third quarter principally due to higher raw material and maintenance costs, partially offset by higher cellulose specialties prices. Compared to fourth quarter 2001, sales and operating income increased $8 million and $4 million, respectively. Sales improved due to higher cellulose specialties volume while operating income improved due to reduced wood and chemical costs and higher cellulose specialties volume.

Timber and Land

Sales of $64 million were comparable to third quarter while operating income of $30 million was down $3 million primarily due to lower land sales and a $4 million unfavorable impact of balance sheet foreign exchange translation, partially offset by higher timber volumes. Compared to fourth quarter 2001, sales increased $9 million while operating income decreased $2 million. Sales improved mainly due to stronger Southeast U.S. timber volume and higher land sales. Operating income, however, declined largely due to a $2.3 million unfavorable impact of balance sheet foreign exchange translation.

Wood Products and Trading

Sales of $90 million and an operating loss of $5 million were comparable to third quarter levels. A $1 million favorable impact of balance sheet foreign exchange translation in this segment was offset by lower lumber prices. Compared to fourth quarter 2001, sales improved $15 million while the operating loss was unchanged, as higher MDF prices were offset by lower lumber prices.

Other Items

Corporate and other expense of $2.1 million was $1.2 million below third quarter and $3.1 million below fourth quarter 2001. Expenses were lower compared to third quarter primarily due to a $4.8 million favorable impact of balance sheet foreign exchange translation, partially offset by higher incentive compensation costs. The improvement from fourth quarter 2001 was primarily the result of a $3.4 million favorable impact of balance sheet foreign exchange translation.

Interest expense of $17 million was $3 million above third quarter and $1 million above fourth quarter 2001 primarily due to the $3.5 million tax deficiency interest as a result of recent IRS settlement proposals relating to outstanding tax audit issues. Interest expense on outstanding debt was below both prior periods.

A tax benefit for the quarter of $1.8 million resulted principally from approximately $3 million in benefits from a 10 percent appreciation of the New Zealand dollar vs. the U.S. dollar and the realization of $1 million of previously unrecognized foreign tax benefits. Previous foreign exchange related tax effects included a $1 million expense in third quarter 2002 and a benefit of $2 million in fourth quarter 2001. The unusually low effective annual tax rate of 21.3 percent compared to an estimated annual effective tax rate of 28.4 percent at the end of September 2002, and 29.4 percent for full year 2001.

Pension Liabilities

As anticipated in Rayonier's third quarter 2002 earnings release, due to the severe decline in U.S. equity markets and lower interest rates, the company recorded a year-end, non-cash, after-tax charge of $32 million to Shareholders' Equity for additional pension liabilities. The company continues to expect pension expense for 2003 to increase by approximately $4 million over the $3.4 million recorded in 2002.

Additional Items

Rayonier is undergoing a re-audit of fiscal years 2000 and 2001 as required by generally accepted auditing standards when a company has discontinued operations and its prior years' auditors have ceased operations. The company does not anticipate any material changes to prior years' financial statements due to the re-audits, which are expected to be completed shortly.

Outlook

"We expect a slow start to the year with first quarter earnings well below first quarter 2002 due to the timing both of land sales and performance fibers' shipments, weaker timber markets and increased raw material and energy costs," Nutter said. "However, continued strong demand for our high value cellulose specialty products and anticipated land sales should provide a solid earnings base for the year."

Rayonier is the world's premier supplier of high performance specialty cellulose fibers and has 2.2 million acres of timberland in the U.S. and New Zealand. Approximately 45 percent of Rayonier's sales are outside the U.S. to customers in 60 countries.

Comments about anticipated demand, expenses and earnings are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The following important factors, among others, could cause actual results to differ materially from those expressed in the forward-looking statements: changes in global market trends and world events; interest rate and currency movements; changes in capital markets and the resulting impact on returns on the company's pension plan assets; fluctuations in demand for cellulose specialties, absorbent materials, timber, and wood products; adverse weather conditions; changes in production costs for wood products and performance fibers, particularly for raw materials such as wood, energy and chemicals; unexpected delays in the closing of land sale transactions; and implementation or revision of governmental policies and regulations affecting the environment, import and export controls and taxes. For additional factors that could impact future results, please see the company's most recent Form 10-K on file with the Securities and Exchange Commission.

A conference call will be held on Wednesday, January 22 at 4:15 p.m. EST to discuss these results. Interested parties are invited to listen to the live webcast by logging onto http://www.rayonier.com and following the link. Supplemental materials will be available at the website. A replay will also be available on the site shortly after the call. Also, investors may access the "listen only" conference call by dialing 913-981-5584.

For further information, visit the company's web site at http://www.rayonier.com. Complimentary copies of Rayonier press releases and other financial documents are also available by mail or fax by calling 1-800-RYN-7611.

                              RAYONIER
                       FINANCIAL  HIGHLIGHTS (i)
                    DECEMBER 31, 2002  (unaudited)

          (millions of dollars, except per share information)

                           Three Months Ended          Year Ended
                      --------------------------- -------------------
                       December September December December  December
                          31,      30,       31,      31,       31,
                         2002     2002      2001     2002      2001
                      -------- --------- -------- --------- ---------
 Profitability
  Sales                $286.3    $293.1   $253.9  $1,117.4  $1,123.8
  Operating income
   before provision
   for dispositions     $29.7     $35.3    $24.2    $131.9    $147.9
  Provision for
   dispositions         $(2.7)       $-       $-     $(2.7)       $-
  Operating income      $27.0     $35.3    $24.2    $129.2    $147.9
  Income from
   continuing
   operations           $12.8     $15.6     $7.3     $54.9     $56.9
  Discontinued
   operations            $0.1      $0.1     $0.6     $(0.7)     $0.7
  Net income (after
   disc. ops)           $12.9     $15.7     $7.9     $54.2     $57.6
  Diluted earnings
   per share:
     Continuing
      operations        $0.46     $0.55    $0.25     $1.95     $2.06
     Net income
      (after disc.
      ops)              $0.46     $0.56    $0.28     $1.92     $2.09
  Operating income
    as a percent of
     sales                9.4%     12.0%     9.5%     11.6%     13.2%
  ROE (annualized)(a)     6.5%      6.6%     2.0%      7.7%      8.2%

 Capital Resources and Liquidity
  Cash provided by
   operating activities
   of continuing
   operations           $48.1     $72.8    $15.3    $249.8    $227.9
  EBITDA (b)            $75.5     $81.3    $61.8    $307.5    $330.2
  Free cash flow (c)    $22.1     $41.2   $(11.4)   $141.8    $126.3
  Repayment of debt,
   net                  $87.6     $40.4     $5.0    $210.2    $123.2
  Debt                 $641.1    $728.8   $849.8    $641.1    $849.8
  Net debt (d)         $627.1    $693.7   $842.5    $627.1    $842.5
  Net debt / capital     46.9%     48.5%    54.3%     46.9%     54.3%

  (a)  From continuing operations; major land sales are not
       annualized.

  (b)  EBITDA is defined as earnings from continuing operations
       before significant non-recurring items, interest expense,
       income taxes, depreciation, depletion, amortization and the
       non-cash cost of land sales.  EBITDA is a non-GAAP measure of
       gross cash generating capacity of the company.

  (c)  Free Cash Flow is defined as cash provided by operating
       activities of continuing operations less net custodial capital
       spending, dividends at prior year level and the tax benefit on
       the exercise of stock options.  Free cash flow is a non-GAAP
       measure of discretionary cash available to shareholders or to
       grow earnings.

  (d)  Net debt is defined as debt less cash invested and intended
       for debt reduction of $14.0, $35.1 and $7.3, at 12/31/02,
       9/30/02, and 12/31/01, respectively.  Net debt is a non-GAAP
       measure of anticipated debt levels.

  (i)  Prior period amounts were reclassified to reflect the New
       Zealand East Coast operations as discontinued operations.

                                 -A-


                                RAYONIER
                STATEMENTS  OF  CONSOLIDATED  INCOME (i)
                     DECEMBER 31, 2002  (unaudited)

          (millions of dollars, except per share information)

                     Three Months Ended                Year Ended
            ----------------------------------- ----------------------
             December    September   December    December    December
                 31,         30,         31,         31,         31,
                2002        2002        2001        2002        2001
            ----------- ----------- ----------- ----------- ----------

 Sales          $286.3      $293.1      $253.9    $1,117.4    $1,123.8
            ----------- ----------- ----------- ----------- ----------
 Costs and
  expenses
    Cost of
     sales       251.3       248.0       221.1       949.4       943.5
    Selling
     and
     general
     expenses     12.2         8.4        11.7        42.4        36.3
    Other
     operating
     expense
     (income)     (6.9)        1.4        (3.1)       (6.3)       (3.9)
            ----------- ----------- ----------- ----------- ----------
 Operating income
  before dispo-
  sitions         29.7        35.3        24.2       131.9       147.9
 Provision
  for dispo-
  sitions          2.7           -           -         2.7           -
            ----------- ----------- ----------- ----------- ----------
 Operating
  income          27.0        35.3        24.2       129.2       147.9

 Interest
  expense        (16.8)      (14.3)      (16.2)      (61.4)      (69.1)
 Interest
  and misc-
  ellaneous
  income
  (expense),
  net              0.8         0.9         0.7         2.0         1.9
            ----------- ----------- ----------- ----------- ----------
 Income from
  continuing
  operations
  before income
  taxes           11.0        21.9         8.7        69.8        80.7
 Income tax
  benefit
  (expense)        1.8        (6.3)       (1.4)      (14.9)      (23.8)
            ----------- ----------- ----------- ----------- ----------
 Income from
  continuing
  operations     $12.8       $15.6        $7.3       $54.9       $56.9
 Discontinued
 operations,
 net               0.1         0.1         0.6        (0.7)        0.7
            ----------- ----------- ----------- ----------- ----------
 Net income
  (after
  disc. ops)     $12.9       $15.7        $7.9       $54.2       $57.6
            =========== =========== =========== =========== ==========

 Net income
  per Common
  Share
 Basic EPS
    From conti-
    nuing oper-
    ations       $0.46       $0.55       $0.26       $1.98       $2.09
            =========== =========== =========== =========== ==========
    Net income
     (after disc.
     ops)        $0.47       $0.56       $0.29       $1.96       $2.12
            =========== =========== =========== =========== ==========
 Diluted EPS
    From conti-
    nuing oper-
    ations       $0.46       $0.55       $0.25       $1.95       $2.06
            =========== =========== =========== =========== ==========
    Net
     income
     (after
     disc.
     ops)        $0.46       $0.56       $0.28       $1.92       $2.09
            =========== =========== =========== =========== ==========

 Weighted average Common
 Shares used for determining

Basic EPS   27,717,458  27,753,428  27,282,588  27,681,785  27,210,802
            =========== =========== =========== =========== ==========
Diluted EPS 28,076,363  28,201,286  27,669,616  28,157,576  27,601,898
            =========== =========== =========== =========== ==========

 (i) Prior period amounts were reclassified to reflect the New Zealand
     East Coast operations as discontinued operations.

                                 -B-


                               RAYONIER
         BUSINESS  SEGMENT  SALES  AND  OPERATING  INCOME (i)
                    DECEMBER 31, 2002  (unaudited)

                        (millions of dollars)

                         Three Months Ended            Year Ended
                   ------------------------------ -------------------
                    December  September  December  December  December
                       31,       30,        31,       31,       31,
                      2002       2002      2001      2002      2001
                   --------- ---------- --------- --------- ---------
 Sales
    Performance Fibers
     Cellulose
      specialties    $100.3      $97.4     $86.6    $374.9    $368.6
     Absorbent
      materials        33.3       41.7      38.9     151.2     178.4
                   --------- ---------- --------- --------- ---------
      Total Performance
       Fibers         133.6      139.1     125.5     526.1     547.0
                   --------- ---------- --------- --------- ---------

    Timber and Land
     Timber            48.3       35.8      41.7     171.8     188.6
     Land              15.3       28.3      13.0      75.3      83.9
                   --------- ---------- --------- --------- ---------
      Total Timber
       and Land        63.6       64.1      54.7     247.1     272.5
                   --------- ---------- --------- --------- ---------

    Wood Products
     and Trading       89.9       90.8      74.8     353.6     316.6

    Intersegment
     eliminations      (0.8)      (0.9)     (1.1)     (9.4)    (12.3)
                   --------- ---------- --------- --------- ---------

      Total sales    $286.3     $293.1    $253.9  $1,117.4  $1,123.8
                   ========= ========== ========= ========= =========

 Operating income (loss)
    Performance
     Fibers            $6.5      $10.8      $2.6     $34.6     $35.1

    Timber and Land
     Timber            20.6       14.2      20.9      76.4      93.7
     Land               9.4       18.6      10.8      47.3      51.6
                   --------- ---------- --------- --------- ---------
      Total Timber
       and Land        30.0       32.8      31.7     123.7     145.3

    Wood Products
     and Trading       (4.7)      (5.0)     (4.9)    (12.1)    (13.5)

    Corporate and
     other             (2.1)      (3.3)     (5.2)    (14.3)    (19.0)
                   --------- ---------- --------- --------- ---------

      Operating income
       before dispo-
       sitions         29.7       35.3      24.2     131.9     147.9

    Provision for
     dispositions      (2.7)         -         -      (2.7)        -
                   --------- ---------- --------- --------- ---------

      Total
       operating
       income         $27.0      $35.3     $24.2    $129.2    $147.9
                   ========= ========== ========= ========= =========


 (i) Prior period amounts were reclassified to reflect the New Zealand
     East Coast operations as discontinued operations.

                                 -C-


                               RAYONIER
          CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (i)
                    DECEMBER 31, 2002  (unaudited)

                        (millions of dollars)

                                                       Year Ended
                                                  -------------------
                                                   December  December
                                                      31,       31,
                                                     2002      2001
                                                  --------- ---------

Continuing operations
 Income from continuing operations                   $54.9     $56.9
 Non-cash items included in income                   184.1     192.2
 Changes in working capital and other assets and
  liabilities                                         10.8     (21.2)
                                                  --------- ---------
 Cash provided by operating activities               249.8     227.9
                                                  --------- ---------
 Capital expenditures, net of sales and
  retirements                                        (76.6)    (74.3)
                                                  --------- ---------
 Repayment of debt, net                             (210.2)   (123.2)
 Dividends paid, share repurchases, shares issued    (28.7)    (31.9)
                                                  --------- ---------
 Cash used for financing activities                 (238.9)   (155.1)
                                                  --------- ---------
Cash provided by discontinued operations              70.5       5.8
                                                  --------- ---------
Cash and equivalents
Increase in cash and cash equivalents                  4.8       4.3
Balance, beginning of year                            14.1       9.8
                                                  --------- ---------
Balance, end of year                                 $18.9     $14.1
                                                  ========= =========


 (i) Prior period amounts were reclassified to reflect the New Zealand
     East Coast operations as discontinued operations.

                                 -D-


                               RAYONIER
               SELECTED  SUPPLEMENTAL FINANCIAL DATA (i)
                    DECEMBER 31, 2002  (unaudited)

                        (millions of dollars)

                         Three Months Ended            Year Ended
                   ------------------------------ -------------------
                    December  September  December  December  December
                       31,       30,        31,       31,       31,
                      2002      2002       2001      2002      2001
                   --------- ---------- --------- --------- ---------

Geographical Data (Non-U.S.)
  Sales
    New Zealand       $29.2      $20.2     $21.0     $86.7     $71.9
    Other               7.9        8.5       9.7      41.2      39.9
                   --------- ---------- --------- --------- ---------
       Total          $37.1      $28.7     $30.7    $127.9    $111.8
                   ========= ========== ========= ========= =========

  Operating income (loss)
    New Zealand        $5.4       $2.0      $1.8      $9.3      $3.2
    Other               1.1        0.1       1.3       0.2      (0.3)
                   --------- ---------- --------- --------- ---------
       Total           $6.5       $2.1      $3.1      $9.5      $2.9
                   ========= ========== ========= ========= =========

Timber and Land
 Sales
    Northwest U.S.    $21.2       $9.7     $18.5     $69.5     $68.0
    Southeast U.S.     31.9       48.1      28.2     148.6     180.5
    New Zealand        10.5        6.3       8.0      29.0      24.0
                   --------- ---------- --------- --------- ---------
       Total          $63.6      $64.1     $54.7    $247.1    $272.5
                   ========= ========== ========= ========= =========

  Operating income (loss)
    Northwest U.S.    $14.5       $4.8     $13.0     $47.7     $48.5
    Southeast U.S.     14.0       23.7      17.0      70.9      89.3
    New Zealand         1.5        4.3       1.7       5.1       7.5
                   --------- ---------- --------- --------- ---------
       Total          $30.0      $32.8     $31.7    $123.7    $145.3
                   ========= ========== ========= ========= =========

EBITDA
 Performance Fibers   $27.7      $28.7     $22.5    $110.0    $111.5
 Timber and Land       51.7       56.8      45.3     209.6     236.8
 Wood Products and
  Trading               0.3       (0.9)     (1.2)      4.4       1.1
 Corporate and other   (4.2)      (3.3)     (4.8)    (16.5)    (19.2)
                   --------- ---------- --------- --------- ---------
    Total             $75.5      $81.3     $61.8    $307.5    $330.2
                   ========= ========== ========= ========= =========

 (i) Prior period amounts were reclassified to reflect the New Zealand
     East Coast operations as discontinued operations.

                                 -E-


                               RAYONIER
                 SELECTED  OPERATING  INFORMATION (i)
                     DECEMBER 31, 2002 (unaudited)

                         Three Months Ended            Year Ended
                   ------------------------------ -------------------
                    December  September  December  December  December
                       31,       30,        31,       31,       31,
                       2002       2002      2001      2002      2001
                   --------- ---------- --------- --------- ---------
Performance Fibers
 Sales Volume
  Cellulose specialties,
   in thousands of
   metric tons          116        114       100       435       423
  Absorbent materials,
   in thousands of
   metric tons           60         75        68       271       284
 Production as a
  percent of
  capacity             99.9%      98.3%     95.9%     98.6%     97.1%

Timber and Land
 Sales volume - Timber
    Northwest U.S.,
     in millions of
     board feet          66         36        66       252       251
    Southeast U.S.,
     in thousands
     of short
     green tons       1,284      1,165     1,025     4,881     5,395
    New Zealand,
     in thousands
     of metric
     tons (ii)          273        243       242       805       793

Timber sales volume -
 Intercompany
    Northwest U.S.,
     in millions of
     board feet           2          2         4        38        48
    Southeast U.S.,
     in thousands of
     short green tons    16         13        11        37        43
    New Zealand,
     in thousands of
     metric tons (ii)    21         16        12        60        46

 Acres sold           6,704     14,657     6,466    44,256    67,417

Wood Products and Trading
 Lumber sales volume,
  in millions of
  board feet             73         87        80       325       279
 Medium-density
  fiberboard
   sales volume,
   in thousands of
   cubic meters          46         40        48       163       161

 Log trading sales
  volume
    North America,
     in millions of
     board feet          32         32        23       123       151
    New Zealand,
     in thousands of
     metric tons        147         91        55       398       272
    Other,
     in thousands of
     cubic meters        48         46        68       298       331

 (i) Prior period amounts were reclassified to reflect the New Zealand
     East Coast operations as discontinued operations.
 (ii)2001 volume restated from cubic meters to metric tons

                                 -F-


                                RAYONIER
                 RECONCILIATION OF NON-GAAP MEASURES (i)
                     DECEMBER 31, 2002  (unaudited)

                          (millions of dollars)

                            Three Months Ended           Year Ended
                     ----------------------------- -------------------
                      December  September December  December  December
                         31,       30,       31,       31,       31,
                        2002      2002      2001      2002      2001
                     --------- --------- --------- --------- ---------

 EBITDA
  Cash provided by
   operating activities
   of continuing
   operations            $48.1     $72.8     $15.3    $249.8    $227.9
  Income tax
   (benefit) expense      (1.8)      6.3       1.4      14.9      23.8
  Interest expense        16.8      14.3      16.2      61.4      69.1
  Balance sheet changes   12.4     (12.1)     28.9     (18.6)      9.4
                      --------- --------- --------- --------- --------
  EBITDA                 $75.5     $81.3     $61.8    $307.5    $330.2
                      ========= ========= ========= ========= ========


 Free Cash Flow
  Cash provided by
   operating activities
   of continuing
   operations            $48.1     $72.8     $15.3    $249.8    $227.9
  Custodial capital
   spending, net         (16.0)    (21.5)    (15.4)    (65.6)    (60.9)
  Dividends at prior
   year level            (10.0)    (10.0)     (9.8)    (39.9)    (39.2)
  Tax benefit on
   exercise of
   stock options             -      (0.1)     (1.5)     (2.5)     (1.5)
                      --------- --------- --------- --------- --------
  Free Cash Flow         $22.1     $41.2    $(11.4)   $141.8    $126.3
                      ========= ========= ========= ========= ========


 Net Debt
  Debt                  $641.1    $728.8    $849.8    $641.1    $849.8
  Cash intended to
   pay-down debt         (14.0)    (35.1)     (7.3)    (14.0)     (7.3)
                      --------- --------- --------- --------- --------
  Net Debt              $627.1    $693.7    $842.5    $627.1    $842.5
                      ========= ========= ========= ========= ========


 (i) Prior period amounts were reclassified to reflect the New Zealand
     East Coast operations as discontinued operations.

                                 -G-

CONTACT:
Rayonier Inc., Jacksonville
Media Contact:
Jay Fredericksen, 904/357-9106
or
Investor Contact:
Parag Bhansali, 904/357-9155

Contact

Mark McHugh

Senior Vice President and Chief Financial Officer

Phone: (904) 357-9100

investorrelations@rayonier.com

Transfer Agent

For essential services such as change of address, lost certificates or dividend checks, or change in registered ownership, please write or call:

  • Regular Mail
  • Computershare
  • P.O. Box 43006
  • Providence, RI 02940-3006
  • United States
  • Overnight Delivery
  • Computershare
  • 250 Royall Street
  • Canton, MA 02021
  • United States

Inside the U.S.: (800) 659-0158

Outside the U.S.: (201) 680-6587

For online inquiries, please visit https://www-us.computershare.com.

Please include your name, address, account number and telephone number with all correspondence.

Get investor email alerts delivered to your inbox