Weyerhaeuser Company Declares Dividend on Common Shares

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) has declared a quarterly cash dividend of $0.17 per share, payable on June 18, 2021, to shareholders of record by June 4, 2021. This dividend aligns with the company's new "base plus variable supplemental" dividend framework introduced in Q4 2020. The company aims for a targeted annual return to shareholders of 75 to 80 percent of their Adjusted Funds Available for Distribution (Adjusted FAD), supplemented primarily through annual cash dividends in the first quarter.

Positive

• Quarterly cash dividend of $0.17 per share declared.
• Implementation of a 'base plus variable supplemental' dividend framework aimed at a 75-80% return to shareholders.

Negative

• None.

SEATTLE, May 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 June 18, 2021, to holders of record of such common stock as of the close of business on June 4, 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.

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. 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 in May 2021?

Weyerhaeuser declared a dividend of $0.17 per share.

When is the payment date for Weyerhaeuser's declared dividend?

The dividend is payable on June 18, 2021.

What is the record date for Weyerhaeuser's dividend?

The record date for the dividend is June 4, 2021.

What is the targeted annual return to shareholders according to Weyerhaeuser's new framework?

Weyerhaeuser aims for a targeted annual return of 75 to 80 percent of Adjusted Funds Available for Distribution.

When does Weyerhaeuser plan to declare its variable supplemental dividend?

The variable supplemental dividend is expected to be declared and paid annually in the first quarter.