U.S. paper and packaging company International Paper Co will raise its quarterly dividend by 40 percent, the third hike over the last 12 months, an indication that demand is picking up amid a gradual improvement in the global economy. Industry leader International Paper separately said it intends to buy a majority stake in Andhra Pradesh Paper Mills (APPM) , India's third-largest paper company by market value, for about $257 million in cash to gain a foothold in the growing Asian market. International Paper, which operates in more than 20 nations, will buy about 53.5 percent of APPM from LN Bangur and others by paying 523 rupees ($11.674) a share. Bangurs have interests in textile manufacturing, tea plantation, wind energy generation and trading and investment business other than paper.
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