Weyerhaeuser announces 18 percent dividend increase
FEDERAL WAY, Wash., April 11, 2013
FEDERAL WAY, Wash., April 11, 2013 /PRNewswire/ --Weyerhaeuser Company (NYSE:
WY) today announced that its board of directors has authorized an 18 percent
increase in the company's regular quarterly cash dividend, from $0.17 per
share to $0.20 per share.
(Logo: http://photos.prnewswire.com/prnh/20120111/AQ34535LOGO )
The board declared a dividend of $0.20 per share on the common stock of the
corporation, payable May 31, 2013, to shareholders of record at the close of
business May 10, 2013.
"The board is committed to a sustainable and growing dividend," said Chuck
Williamson, chairman of the board. "Since setting our initial dividend as a
REIT, we have grown the dividend by more than 33 percent."
"Stronger market fundamentals combined with our improved operating results
underscore our confidence in increasing the dividend at this time," said Dan
Fulton, president and chief executive officer. "Although we still expect the
market recovery to be uneven, Weyerhaeuser remains focused on capturing the
full benefits of improving market conditions to further enhance shareholder
As previously announced, Weyerhaeuser will release first quarter 2013 results
on Friday, April 26, before the market opens. The company will hold a live
conference call at 7 a.m. Pacific (10 a.m. Eastern) the same day to discuss
Weyerhaeuser Company, one of the world's largest private owners of
timberlands, began operations in 1900. We own or control more than 6 million
acres of timberlands, primarily in the U.S., and manage another 14 million
acres under long-term licenses in Canada. We manage these timberlands on a
sustainable basis in compliance with internationally recognized forestry
standards. We are also one of the largest manufacturers of wood and cellulose
fibers products, and we develop real estate, primarily as a builder of
single-family homes. Our company is a real estate investment trust. In 2012,
we generated $7.1 billion in sales and employed approximately 13,200 people
who serve customers worldwide. We are listed on the Dow Jones World
Sustainability Index. Our stock trades on the New York Stock Exchange under
the symbol WY. Learn more about us at www.weyerhaeuser.com.
For more information contact:
Media – Anthony Chavez, 253-924-7148
Analysts – Kathryn McAuley, 253-924-2058
SOURCE Weyerhaeuser Company
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