Monday, November 22, 2021
Weyerhaeuser Company (NYSE: WY) today 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 December 17, 2021, to holders of record of such common stock as of the close of business on December 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 normally be declared and paid annually in the first quarter. The company continues to expect it will declare and pay a supplemental dividend in the 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.
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