International Paper Co. IP, -1.76% said Tuesday that it is raising its annual dividend by 2.5% to $2.05. The company declared a quarterly dividend of $0.5125 on its common stock, and a quarterly dividend of $1 per share on preferred stock. Both are payable on Dec. 16, 2019 to holders of record as of the close of business on Nov. 15, 2019. International Paper stock is down 18.8% for the past year while the S&P 500 index SPX, -1.56% is up 0.3% for the period.