NEW YORK, NY, May 22, 2001 -- Westvaco Corporation today announced that its Board of Directors has declared a fiscal 2001 third quarter common stock dividend of 22 cents per share. The dividend is payable on July 2, 2001 to shareholders of record as of June 1, 2001. The July payment will mark Westvaco's 423rd consecutive quarterly common stock cash dividend. Westvaco has one of the longest records of uninterrupted quarterly dividend payments among companies listed on the New York Stock Exchange. Westvaco Corporation (www.westvaco.com), headquartered in New York, NY, is a major producer of packaging, paper and specialty chemicals. The company serves customers in more than 70 countries and its assets include operations in the United States, South America and Europe