Boise Cascade Company Announces Supplemental Dividend of $2.00 Per Share

Rhea-AI Summary

Boise Cascade Company (NYSE: BCC) has announced a supplemental dividend of $2.00 per share, scheduled for payment on July 30, 2021, to stockholders of record as of July 15, 2021. CEO Nate Jorgensen emphasized the company's balanced capital allocation strategy, indicating strong cash returns to shareholders while maintaining flexibility for future investments and growth opportunities. Future dividends will depend on several factors including legal requirements, company performance, and financial conditions.

Positive

• Declaration of a supplemental dividend of $2.00 per share, returning cash to shareholders.
• Retention of balance sheet flexibility for investments and growth opportunities.

Negative

• None.

Boise Cascade Company’s (Boise Cascade or the Company) (NYSE: BCC) Board of Directors has declared a supplemental dividend of $2.00 per share to holders of its common stock. The dividend will be paid on July 30, 2021 to stockholders of record on July 15, 2021.

“We have taken a consistent and balanced approach to capital allocation, and we are able to return cash to our shareholders with a supplemental dividend,” commented Nate Jorgensen, CEO. “At the same time, we have retained ample balance sheet flexibility to invest in our existing asset base and pursue organic and acquisition growth opportunities.”

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, contractual obligations, 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 contains statements that are “forward looking” within the Private Securities Litigation Reform Act of 1995. These statements speak only as of the date of this press release. While they are based on the current expectations and beliefs of management, they are subject to a number of uncertainties and assumptions that could cause actual events to differ from the expectations expressed in this release. Factors that could cause actual events to differ materially from 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/20210628005764/en/

FAQ

What is the supplemental dividend amount for BCC?

The supplemental dividend amount for Boise Cascade Company (BCC) is $2.00 per share.

When will the supplemental dividend be paid?

The supplemental dividend will be paid on July 30, 2021.

What is the record date for the BCC dividend?

The record date for the BCC supplemental dividend is July 15, 2021.

How often does Boise Cascade pay dividends?

Future dividend declarations will depend on various factors and will be announced by the Board of Directors.

What factors influence Boise Cascade's dividend declarations?

Factors include legal capital requirements, future operations and earnings, and general financial condition.