Weyerhaeuser Company Declares Dividend on Common Shares

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) declared a quarterly cash dividend of $0.17 per share, payable on September 17, 2021, to shareholders of record as of September 3, 2021. The company continues its 'base plus variable supplemental' dividend framework, aiming for an annual total return to shareholders of 75 to 80 percent of Adjusted Funds Available for Distribution (Adjusted FAD). Adjusted FAD is the net cash from operations after capital expenditures. Weyerhaeuser reported $7.5 billion in net sales for 2020 and manages approximately 11 million acres of timberlands.

Positive

• Declared quarterly dividend of $0.17 per share.
• Utilizing a 'base plus variable supplemental' dividend framework.
• Targeting annual return to shareholders of 75 to 80 percent of Adjusted FAD.

Negative

• Potential risks related to forward-looking statements regarding dividend amounts and timing.

SEATTLE, Aug. 13, 2021 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced that its board of directors declared a quarterly base cash dividend of $0.17 per share on the common stock of the company, payable in cash on September 17, 2021, to holders of record of such common stock as of the close of business on September 3, 2021.

In fourth quarter 2020, Weyerhaeuser implemented a "base plus variable supplemental" dividend framework. Under this framework, the company expects to supplement its quarterly base cash dividend, as appropriate, with a variable return of cash to achieve a targeted total annual return to shareholders of 75 to 80 percent of annual Adjusted Funds Available for Distribution (Adjusted FAD). Weyerhaeuser expects this variable return of cash will occur primarily through a supplemental cash dividend which will, in general, be declared and paid annually in the first quarter, beginning first quarter 2022.

Adjusted FAD, a non-GAAP measure, is defined by Weyerhaeuser as net cash from operations adjusted for capital expenditures and significant non-recurring items.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands 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 products in North America. Our company is a real estate investment trust. In 2020, we generated $7.5 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

FORWARD-LOOKING STATEMENTS

This news release contains statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the company's expectations about the amount, timing and occurrence of future quarterly and supplemental cash dividends as well as the company's dividend framework. Forward-looking statements are generally identified by words such as "expect," "targeted," and "will," and similar words and expressions referencing future events. Forward-looking statements are based on our current expectations and assumptions, the accuracy of which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in our 2020 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements, reports, registration statements, prospectuses, information statements and other filings with the SEC.

It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Also included in this news release are references to Adjusted FAD, which is a non-GAAP financial measure. Adjusted FAD may not be comparable to similarly named or captioned non-GAAP financial measures of other companies due to potential inconsistencies in how such measures are calculated. Adjusted FAD should not be considered in isolation from, and is not intended to represent an alternative to, our GAAP results.

For more information contact:
Analysts – Beth Baum, 206-539-4450
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company

FAQ

What is the dividend amount declared by Weyerhaeuser (WY)?

Weyerhaeuser declared a quarterly cash dividend of $0.17 per share.

When is the dividend payment date for Weyerhaeuser's (WY) cash dividend?

The dividend is payable on September 17, 2021.

What is the record date for Weyerhaeuser's (WY) dividend?

The record date for the dividend is September 3, 2021.

What is Adjusted Funds Available for Distribution (Adjusted FAD) for Weyerhaeuser (WY)?

Adjusted FAD is defined as net cash from operations adjusted for capital expenditures and significant non-recurring items.

What is Weyerhaeuser's (WY) strategy for returning cash to shareholders?

Weyerhaeuser aims for a total return of 75 to 80 percent of annual Adjusted FAD through its dividend framework.