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IFF (New York) announced its board has authorized a 15% increase in the company's quarterly cash dividend, upping it from $0.27 to $0.31 per share. This dividend will be paid on October 5 to all IFF shareholders of record as of Sept. 21, 2011.
"As part of our continued commitment to maximize shareholder value, we are pleased to announce our sixth dividend increase in seven years," said Doug Tough, chairman and CEO. "We believe this increase underscores our strong financial condition and excellent cash flow position, as well as our board's confidence in IFF's future growth opportunities."