Rayonier Inc. - RYN STOCK NEWS

Rayonier Inc. (NYSE:RYN) has declared a first quarter cash dividend of $0.285 per common share, payable on March 31, 2023, to shareholders on record as of March 17, 2023. Additionally, a cash distribution of $0.285 per operating partnership unit was announced, also payable on March 31, 2023, to holders of record on March 17, 2023. This reflects the company’s ongoing commitment to return value to shareholders. Rayonier is a leader in timberland real estate investment, with approximately 2.8 million acres of timberlands across regions in the U.S. and New Zealand as of December 31, 2022.

Rayonier emphasizes its commitment to environmental stewardship and wildlife protection, particularly focusing on bald eagles. Foresters like Charlie Dunn and Ben Cazell employ sustainable forestry practices while adhering to federal laws designed to protect these birds. They maintain buffer zones around identified nests, ensuring no activity disrupts the eagles during nesting seasons. This proactive approach integrates advanced technology, allowing for real-time mapping and communication about eagle nest locations. Rayonier's efforts showcase the balance between timber production and ecological conservation, highlighting the role of foresters in preserving vulnerable species.

Rayonier was awarded the 2022 Large Business of the Year by Nassau County Chamber of Commerce at their Annual Business Awards Dinner on February 2, 2023. This prestigious recognition highlights Rayonier's 85 years of commitment to the community and responsible environmental stewardship. The Chamber honors businesses that contribute positively to the region's growth and quality of life. This award reflects Rayonier's dedication to both community prosperity and sustainable practices.

YULEE, FL. / ACCESSWIRE / February 2, 2023 / Rayonier employees participated in a team-building event called More Than Planting Day, planting thousands of trees near the company's headquarters. Approximately 50 support staff from various departments planted seedlings, learning from professional foresters about the planting process. Rayonier plants over 30 million trees annually and has planted almost 1.5 billion since its inception. The event emphasized the importance of forestry in providing clean air, water, and habitat for wildlife. Future planting days are planned to continue team engagement and awareness of environmental contributions.

Rayonier reported a fourth quarter net income attributable to the company of $33.1 million ($0.22 per share) on revenues of $245.4 million, compared to $8.7 million in the prior year quarter. Full-year net income was $107.1 million ($0.73 per share), down from $152.6 million the previous year. Key drivers included $16.6 million from large asset dispositions and operational challenges in the New Zealand segment due to declining timber prices. Adjusted EBITDA for the fourth quarter was $68.4 million, up from $50.4 million year-over-year. The company expects 2023 net income of $52 to $73 million, indicating an overall cautious outlook amid market fluctuations.

Rayonier has invested over 60 years in forest research, establishing more than 200 acres of seed orchards that produce 90% of their seedlings. The company employs natural breeding methods focusing on improving wood growth and disease resistance in pine species, particularly in the Southeast. This extensive research involves rigorous field tests to select high-performing tree families. While the process takes years to yield results, it ultimately aims to create healthier trees that benefit the environment by sequestering more carbon. Rayonier emphasizes that their breeding methods do not involve genetic engineering, ensuring ecological integrity.

Rayonier (NYSE:RYN) has appointed Mark McHugh as President and Chief Financial Officer, effective January 20, 2023. McHugh will expand his role in strategic planning and operational decisions, continuing to report to CEO David Nunes. Joining Rayonier in 2014, McHugh has previously served as Senior Vice President and CFO. Additionally, Doug Long has been promoted to Executive Vice President and Chief Resource Officer, also effective January 20, 2023. Long will oversee global forestry operations and focus on nature-based climate solutions. Both appointments reflect the company's strategic growth and commitment to leadership.

Rayonier (NYSE:RYN) has recognized three contractors for their outstanding commitment to workplace safety in a recent press release dated January 20, 2023. The safety initiatives were part of Rayonier's core value of "Safety as a Way of Life," designed not just for its employees but also for local businesses. Honorees included Dillon Stratton of 3D Trucking, who implemented an innovative driver alert system; Dave Dilley from Dilley and Soloman, who invested in new logging technology; and Kim Nettles from True2Shine, who maintained safety standards at the Wildlight office. Rayonier continues to promote safety through various programs, including a safety app and training seminars.