Monday, August 16, 2021
Weyerhaeuser Company (NYSE: WY) has announced that its board of directors declared a quarterly base cash dividend of $0.17 per share on the common stock of the company, payable in cash on September 17, 2021, to holders of record of such common stock as of the close of business on September 3, 2021.
In fourth quarter 2020, Weyerhaeuser implemented a “base plus variable supplemental” dividend framework. Under this framework, the company expects to supplement its quarterly base cash dividend, as appropriate, with a variable return of cash to achieve a targeted total annual return to shareholders of 75 to 80 percent of annual Adjusted Funds Available for Distribution (Adjusted FAD). Weyerhaeuser expects this variable return of cash will occur primarily through a supplemental cash dividend which will, in general, be declared and paid annually in the first quarter, beginning first quarter 2022.
Adjusted FAD, a non-GAAP measure, is defined by Weyerhaeuser as net cash from operations adjusted for capital expenditures and significant non-recurring items.
*This news release contains statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the company’s expectations about the amount, timing and occurrence of future quarterly and supplemental cash dividends as well as the company’s dividend framework.