International Paper, the World's top wood products company has reportedly doubled its profit since one year. Though, the sales have taken a down trend.

International Paper Co., the world's largest maker of cardboard boxes and office paper, slashed its quarterly dividend by 90 percent to preserve cash, joining other high-profile U. S. companies that have done the same, due to recession.

Last week, General Electric cut its dividend 68 percent, and JPMorgan Chase & Co reduced its dividend by 87 percent.