Tuesday, November 22, 2022
Weyerhaeuser Company recently issued a quarterly base cash dividend of $0.18 per share on the company’s common stock, which will be paid in cash to holders of record as of the close of business on December 2, 2022, on December 16, 2022. A “base plus variable supplemental” dividend framework was put in place by Weyerhaeuser in the fourth quarter of 2020. In accordance with this plan, the business anticipates supplementing its quarterly base cash dividend, as necessary, with an additional return of variable cash in order to reach its target total annual return to shareholders of between 75 and 80 percent of annual Adjusted Funds Available for Distribution (Adjusted FAD)
Possibilities for a supplementary dividend
Depending on the financial results of the prior year, the company may choose to declare and pay a supplemental dividend in the first quarter of each year, or it may choose to combine a supplemental dividend with opportunistic share repurchases. This flexibility is provided by the company’s capital allocation framework. The company headquartered at Seattle, Washington, United States, describes adjusted this FAD – a non-GAAP measure, as net cash from operations that has been adjusted for capital expenses and significant non-recurring items.
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Correspondingly, the company had also recently divulged its third quarter net results, which came to $310 million, or 42 cents per diluted share, on net sales of $2.3 billion. This contrasts with net earnings of $788 million for the second quarter of 2022 and net earnings of $482 million, or 64 cents per diluted share, on net sales of $2.3 billion for the same period last year. In either the second or third quarters of 2022, there were no special items. The same time last year saw $450 million in net income before exceptional items. Adjusted EBITDA for the third quarter of 2022 was $583 million compared with $746 million for the same period last year and $1.2 billion for the second quarter of 2022.
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