RAI declares quarterly dividend

Thomas C. Wajnert has notified the board of directors of Reynolds American Inc. that he will retire as a member of the board, effective December 31.

In a note posted on its website, RAI said that, as previously announced on October 19, Wajnert also would retire as non-executive chairman, effective December 31, and Susan M. Cameron, currently RAI’s president and CEO, will become executive chairman on January. 1.  She will serve as executive chairman until May 1, when she is expected to become the non-executive chairman.

Lionel L. Nowell, III, a member of the RAI board since 2007, has been elected lead director, effective January 1, when Cameron assumes the role of executive chairman.  Nowell is a retired senior vice president and treasurer of PepsiCo, and also serves on the boards of directors of American Electric Power Company, Inc. and Bank of America Corp.

Wajnert has served as RAI’s non-executive chairman since 2010 and on the board of RAI since 2004, including as lead director from 2008 to 2010.  He also served on the board of R.J. Reynolds Tobacco Holdings, Inc. from 1999 to 2004.

Meanwhile, RAI’s board of directors declared a quarterly cash dividend on the company’s common stock of $0.46 per share ($1.84 per share annualized).

The dividend will be payable on January 3 to shareholders of record on December 12.

RAI said this was the 50th consecutive quarterly cash dividend since RAI became a public company on July 30, 2004.