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Weyerhaeuser Company (NYSE: WY) is a leading global enterprise in the forest products industry, renowned for its extensive timberlands and sustainable management practices. Established in 1900, Weyerhaeuser ranks among the world's largest private owners of timberlands, overseeing approximately 10.5 million acres in the United States and an additional 14 million acres under long-term licenses in Canada. The company operates primarily in three business segments: timberlands, wood products, and real estate.
Timberlands: Weyerhaeuser’s timberlands are managed sustainably, complying with internationally recognized forestry standards. The company focuses on maximizing timber yields while maintaining ecological balance and biodiversity. This segment includes activities such as timber harvesting, land management, and sales of standing timber.
Wood Products: As one of North America’s largest producers of wood products, Weyerhaeuser manufactures a broad range of items including lumber, oriented strand board (OSB), and other engineered wood products. These products cater to the construction and home improvement markets, and the company maintains a strong presence in both domestic and export markets.
Real Estate, Energy & Natural Resources: Weyerhaeuser's real estate segment includes the sale of land for development, timberland transactions, and conservation initiatives. The company is also expanding its climate solutions portfolio by engaging in carbon capture and sequestration (CCS) projects, underscoring its commitment to sustainability. Recently, Weyerhaeuser signed an agreement with Lapis Energy to explore CCS opportunities across 187,500 acres in the southern U.S.
Recent Achievements: The company has launched several impactful initiatives, including the THRIVE program, which aims to invest in rural operating communities with a $5 million commitment. Additionally, Weyerhaeuser successfully sold its first forest carbon credits from its Maine project, marking its entry into the voluntary carbon market. The company also reported robust financial performance in 2023, with $7.7 billion in net sales and a strategic acquisition of mature timberlands in the Carolinas and Mississippi.
Partnerships and Innovations: Weyerhaeuser collaborates extensively with various stakeholders to enhance its operational impact. Through partnerships with businesses, nonprofits, and governments, the company supports community development and environmental sustainability. One notable partnership is with Be Pro Be Proud, which aims to educate students on career opportunities in skilled trades within the forest products industry.
Weyerhaeuser’s diversified portfolio, strong commitment to sustainability, and innovative initiatives position it as a leader in the forest products industry. The company continuously seeks to balance economic performance with environmental stewardship, ensuring long-term benefits for stakeholders and the environment.
Weyerhaeuser Company (NYSE: WY) announced that its 2021 dividends, totaling $1.18 per share, are classified as Capital Gain Distributions for tax purposes, treated as long-term capital gains. The dividends were distributed in five installments throughout 2021, including $0.50 in October. These distributions are not eligible for the 20% qualified business income deduction. Looking ahead, the company hints at a significant non-dividend component for 2022 distributions due to an expected supplemental dividend. Shareholders are advised to consult tax professionals regarding their individual tax impacts.
Weyerhaeuser Company (NYSE: WY) is scheduled to release its fourth quarter 2021 results on January 28, 2022, before market opening. A live webcast and conference call will follow at 7 a.m. Pacific (10 a.m. Eastern) to discuss these results. Interested participants can join via telephone; North American callers should dial 877-407-0792, while international participants can reach the call at 201-689-8263. Replays of the call will be available for two weeks post-event.
Weyerhaeuser Company (NYSE: WY) has received the highest designation from the Science Based Targets initiative for its greenhouse gas reduction targets. The company committed to cut direct and indirect emissions by 42% and scope 3 emissions by 25% per ton of production by 2030 from a 2020 baseline. This initiative aligns Weyerhaeuser with the goals of the Paris Agreement to limit global warming to 1.5°C. The company emphasizes sustainability as a core value and plans to achieve these targets through energy efficiency and increased renewable energy use.
Apex Clean Energy has partnered with Weyerhaeuser (NYSE: WY) to develop a significant portfolio of 1,000 megawatts of utility-scale solar and solar-plus-storage projects across Weyerhaeuser's property in the southeastern United States. This collaboration aims to enhance the shift to clean energy by leveraging Weyerhaeuser's extensive landholdings and Apex's proven track record in clean energy commercialization. Projects may commence operations as early as 2023, providing an opportunity for energy purchasers to meet their decarbonization targets.
Weyerhaeuser Company (NYSE: WY) announces the appointment of David Graham as president of its Canadian subsidiary, effective January 1, 2022. Graham, who has over 30 years of experience with Weyerhaeuser, succeeds Fred Dzida, who is retiring after more than 40 years with the company. Dzida will assist in the transition until March 2022. Graham's extensive background in operations and leadership within the Canadian operations is expected to enhance relationships with communities and partners.
Weyerhaeuser Company (NYSE: WY) declared a quarterly cash dividend of $0.17 per common share, payable on December 17, 2021, to shareholders on record as of December 3, 2021. This announcement aligns with the company's 'base plus variable supplemental' dividend framework, expected to target a total annual return to shareholders of 75% to 80% of Adjusted Funds Available for Distribution (Adjusted FAD). A supplemental dividend is anticipated to be declared in the first quarter of 2022.
Weyerhaeuser Company (NYSE: WY) reported a strong performance for Q3 2021 with net earnings of $482 million (64 cents per diluted share), up from $283 million last year. Net sales reached $2.3 billion, exceeding the previous year's $2.1 billion. Adjusted EBITDA was $746 million, on par with last year. The company anticipates a significant supplemental dividend in Q1 2022, driven by impressive cash flow generation. However, the real estate and wood products segments faced declines in earnings and sales realizations. Despite challenges, Weyerhaeuser remains optimistic about U.S. housing demand.
AZEK Company and Weyerhaeuser are expanding their partnership to offer a broader range of low-maintenance and sustainable building products in Texas. This expansion includes TimberTech Outdoor Living and AZEK Exteriors products, available through Weyerhaeuser's Dallas and Houston distribution centers. Both companies emphasize quality, sustainability, and innovation in their offerings, which also come with industry-leading warranties. The partnership aims to enhance AZEK's market presence across the central United States.
Weyerhaeuser Company (NYSE: WY) will announce its third quarter 2021 results on October 29, before market opening. A live webcast and conference call are scheduled for 7 a.m. Pacific (10 a.m. Eastern) that same day to discuss these results. Interested parties can access the live call by dialing 877-407-0792 for North America or 201-689-8263 for international participants. Weyerhaeuser owns approximately 11 million acres of timberlands in the U.S. and is recognized as one of the largest manufacturers of wood products in North America. For more details, visit their Investor Relations webpage.
Weyerhaeuser Company (NYSE: WY) has declared an interim supplemental dividend of $0.50 per share, payable on October 19, 2021. Eligible shareholders must be on record by October 5, 2021. The board also authorized a new share repurchase program of up to $1 billion, replacing the prior $500 million program. This decision follows the company's strong cash flow performance in the first half of 2021, highlighting a commitment to returning capital to shareholders. Weyerhaeuser aims to declare and pay supplemental dividends annually in the first quarter of each year.
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