Monday, February 13, 2023
Weyerhaeuser Company recently announced that its board of directors declared a quarterly base cash dividend of $0.19 per share on the common stock of the company, reflecting a 5.6 percent increase from the prior quarterly dividend of $0.18 per share.
The dividend is payable in cash on March 17, 2023, to holders of record of such common stock as of the close of business on March 3, 2023.
“We’re excited to announce this increase in our quarterly dividend,” said Devin W. Stockfish, president and chief executive officer. “With today’s announcement, this is our second increase in the past two years, and it reflects our commitment to grow our sustainable base dividend by 5 percent annually through 2025. We continue to believe our dividend framework, combined with opportunistic share repurchase, will enhance our ability to drive long-term shareholder value by returning meaningful and appropriate amounts of cash back to shareholders across a variety of market conditions.”
Under Weyerhaeuser’s cash return framework, the company expects to supplement its quarterly base cash dividend, as appropriate, with an additional return of variable cash to achieve a targeted total return to shareholders of 75 to 80 percent of annual Adjusted Funds Available for Distribution (Adjusted FAD). The company has the flexibility in its capital allocation framework to return this additional cash either in the form of a supplemental cash dividend or through opportunistic share repurchase.
Adjusted FAD, a non-GAAP measure, is defined by Weyerhaeuser as net cash from operations adjusted for capital expenditures and significant non-recurring items.
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.
Tags: weyerhaeuser, woodworking, woodworking and manufacturing, woodworking event, woodworking industry, woodworking USA
