Saturday, June 17, 2023
West Fraser declared its quarterly dividend to the shareholders. The dividend is of US$0.30 per share on the Common shares and Class B Common shares in the capital of the Company, payable to shareholders of record on June 21, 2023. Dividends are designated to eligible dividends pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends.
The voting results announced at the Annual General and Special meeting held on April 18 in Quesnel, BC announced the shareholders’ confident votes for a total of 69,696,525 Common shares and Class B Common shares. This meant 83.41 percent of the votes were attached to all outstanding shares. Shareholders even casted their votes on various other business matters that also included the election of all director nominees.
The company has decided that the dividends are payable in Canadian dollars. Shareholders can choose to receive their dividends in Canadian dollars but needs to follow a particular process. The process differs in case of registered shareholders and beneficial shareholders.
Registered Shareholders who plan to continue to receive their dividends in Canadian dollars need to come in contact with the company’s transfer agent. Computershare Investor Services Inc. is the transfer agent who will ease the process for the registered shareholders. The shareholders need to fill a form that will be sent by Computershare via mail. The receiver should resend the Dividend Currency Election Form back with the marked preference of the currency. The company has pointed it out that unless they receive the currency election form, the shareholders will be receiving dividends in U.S. dollars.
Beneficial shareholders who are also known as the non-registered shareholders need to contact their brokers for the processing. They need to direct their brokers to arrange the relevant election on their behalf. In this case too, the company will pay the dividends in U.S. dollars until they receive the currency election.
Tags: dividends, shareholders, west fraser, wood, wood and panel, woodworking, woodworking and manufacturing, woodworking industry, woodworking USA
