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Rayonier Announces Third Quarter 2018 Dividend

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Rayonier Inc. (NYSE:RYN) announced today that the Company's board of
directors has declared a third quarter cash dividend of $0.27 per common
share. The dividend is payable on September 28, 2018, to shareholders of
record on September 14, 2018.

About Rayonier

Rayonier is a leading timberland real estate investment trust with
assets located in some of the most productive softwood timber growing
regions in the United States and New Zealand. As of March 31, 2018,
Rayonier owned, leased or managed approximately 2.6 million acres of
timberlands located in the U.S. South (1.8 million acres), U.S. Pacific
Northwest (378,000 acres) and New Zealand (410,000 acres). More
information is available at www.rayonier.com.

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