Boise Cascade Company Announces Quarterly Dividend of $0.20 Per Share

Rhea-AI Summary

Boise Cascade Company (BCC) has declared a quarterly dividend of $0.20 per share to holders of its common stock. The dividend will be paid on March 15, 2024, to stockholders of record on February 23, 2024. Future dividend declarations will depend on legal capital requirements, the company's operations and earnings, financial condition, cash requirements, and other relevant factors.

Insights

Financial Analyst

The declaration of a quarterly dividend by Boise Cascade Company represents a tangible return to shareholders and is a positive signal regarding the company's current financial health and management's confidence in its ability to generate cash flow. Dividends are often seen as a reflection of a company's stability and maturity and they can attract a certain class of income-focused investors. The specified dividend of $0.20 per share can be evaluated against the company's earnings to discern the payout ratio, which helps in assessing the sustainability of the dividend. Additionally, the consistency and potential growth of dividends are factors that could influence investor sentiment and the company's stock price performance.

Market Research Analyst

From a market research perspective, Boise Cascade's dividend declaration must be contextualized within the broader industry trends. The building materials sector, to which Boise Cascade belongs, is cyclical and heavily influenced by economic factors such as housing markets, interest rates and construction activity. The ability of the company to maintain and potentially increase its dividends in the future will depend on these market conditions. Furthermore, the mention of dependencies such as legal capital requirements, the company’s operations and earnings and restrictions imposed by credit facilities, highlights the importance of monitoring the company's operational efficiency, market position and financial leverage as indicators of its future performance and ability to continue rewarding shareholders.

Legal Expert

From a legal standpoint, the board's forward-looking statement about future dividend declarations being subject to legal capital requirements, the company’s financial condition and restrictions from credit agreements is significant. It underscores the fact that dividends are not guaranteed and are subject to a range of external and internal constraints. Investors should be aware of these conditions as they can materially affect the company's ability to distribute dividends. For instance, covenants in the asset-based credit facility or senior notes indenture could limit financial flexibility, which may be a consideration for risk assessment. Understanding these legal and financial nuances is crucial for stakeholders when evaluating the company's dividend policy and its implications for shareholder value.

BOISE, Idaho--(BUSINESS WIRE)-- Boise Cascade Company’s (Boise Cascade or the Company) (NYSE: BCC) Board of Directors has declared a quarterly dividend of $0.20 per share to holders of its common stock. The dividend will be paid on March 15, 2024 to stockholders of record on February 23, 2024.

Future dividend declarations, including amount per share, record date and payment date, will be made by the board of directors and will depend upon, among other things, legal capital requirements and surplus, the Company’s future operations and earnings, general financial condition, material cash requirements, restrictions imposed by our asset-based credit facility and the indenture governing our senior notes, applicable laws, and other factors as the board of directors may deem relevant.

About Boise Cascade

Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. For more information, please visit our website at www.bc.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of our management and are subject to significant risks and uncertainties. The accuracy of such statements is subject to a number of risks, uncertainties, and assumptions that could cause our actual results to differ materially from those projected, including, but not limited to, prices for building products, changes in the competitive position of our products, commodity input costs, the effect of general economic conditions, mortgage rates and availability, housing demand, housing vacancy rates, governmental regulations, unforeseen production disruptions, as well as natural disasters. These and other factors that could cause actual results to differ materially from such forward-looking statements are discussed in greater detail in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release. We undertake no obligation to revise them in light of new information. Finally, we undertake no obligation to review or confirm analyst expectations or estimates that might be derived from this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240206425704/en/

Investor Relations Contact

Kelly Hibbs

investor@bc.com

Media Contact

Lisa Tschampl

mediarelations@bc.com

Source: Boise Cascade Company

FAQ

What is the dividend declared by Boise Cascade Company (BCC)?

Boise Cascade Company (BCC) has declared a quarterly dividend of $0.20 per share to holders of its common stock.

When will the dividend be paid to stockholders of Boise Cascade Company (BCC)?

The dividend will be paid on March 15, 2024, to stockholders of record on February 23, 2024.

What factors will future dividend declarations of Boise Cascade Company (BCC) depend on?

Future dividend declarations will depend on legal capital requirements, the company's operations and earnings, financial condition, cash requirements, and other relevant factors.