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Weyerhaeuser Strengthens Shareholder Return with Fresh Quarterly Dividend Surge

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Lauren Miller

May 10, 2024 - 00:15 am

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Weyerhaeuser Announces Quarterly Dividend: A Strategic Financial Move for Shareholders

SEATTLE, May 9, 2024 /PRNewswire/ -- The revered and well-established Weyerhaeuser Company (NYSE: WY) has delighted its shareholders with a noteworthy announcement. The firm's board of directors has made the pivotal decision to declare a quarterly base cash dividend of $0.20 per share. This dividend will generously be allocated based on each share of the company's common stock and is scheduled to be payable in the form of cash. The distribution date is set for June 14, 2024, with the beneficiaries of this dividend being the shareholders of record as of the close of business on May 31, 2024. This act reinforces the company's ongoing commitment to creating value and returning profits to its investors.

In lines with its strategic cash return framework, Weyerhaeuser Company has disclosed plans to further supplement the quarterly base cash dividend with an additional variable cash return. This is envisioned to culminate in a comprehensive total return to shareholders, aimed at ranging between 75 to 80 percent of the annual Adjusted Funds Available for Distribution (Adjusted FAD). The company reserves commendable agility in its capital allocation methodology, allowing it the option to furnish this supplementary cash through either a variable supplemental cash dividend or the more discrete mechanism of oppurtunistic share repurchases.

The Adjusted FAD stands as a non-GAAP measure, distinctively defined by Weyerhaeuser. It represents the net cash generated from operations, suitably adjusted for capital expenditures as well as accounting for significant non-recurring items. This measure facilitates a deeper understanding of the company's available financial resources earmarked for distribution to its shareholders.

Upholding a Legacy of Sustainable Forestry and Innovation

Weyerhaeuser Company is a global entity and esteemed name in the industry as one of the world's largest private owners of timberlands. Founded in the year 1900, the company's operational journey boasts of a rich heritage extending over a century. Present-day, Weyerhaeuser has under its auspices, approximately 10.5 million acres of timberlands in the United States. In addition, it presides over 14 million acres of timberlands in Canada, managed under long-term licenses.

The organization cements its role as a trailblazer in sustainable practices by managing every inch of its vast timberland portfolio on the principles of sustainability. Their adherence to internationally recognized sustainable forestry standards signifies a pledge to maintain environmental stewardship. Additionally, Weyerhaeuser stands tall as one of North America's largest manufacturers of wood products. Beyond forestry and manufacturing, the company adeptly operates various other businesses. These include sectors such as real estate, climate solutions, energy, and natural resources, showcasing their diversified operational model.

Following a financially successful year in 2023, Weyerhaeuser's generated a commendable $7.7 billion in net sales. The company relies on the expertise and dedication of approximately 9,300 employees who cater to a global customer base. Upholding its structured business management, Weyerhaeuser functions as a real estate investment trust and has its common stock actively traded on the New York Stock Exchange under the symbol WY.

Interested individuals seeking to gain insight into Weyerhaeuser's versatile operations, sustainability efforts, and financial reports can explore more on their official web portal at www.weyerhaeuser.com.

A Futuristic View: Dividends and Share Repurchases in Weyerhaeuser's Horizon

This recent proclamation from Weyerhaeuser incorporates forward-looking statements within the framework of the Private Securities Litigation Reform Act of 1995. The company has conveyed future-oriented expectations about subsequent quarterly and supplemental cash dividends. Moreover, they address anticipated strategies concerning the company's dividend framework and prospective share repurchases. These forward-looking statements serve as signposts, guiding stakeholders towards the company's future financial maneuvers.

However, it is imperative to recognize that forward-looking statements inherently bear certain risks and uncertainties. These unpredictabilities could substantially impact the actual results, causing divergences from the initially described projections. To maintain transparency and offer a comprehensive perspective on these risks, the company has referenced them in detail in its Annual Report on Form 10-K for the year 2023. Additionally, further elucidation of these risks and uncertainties is periodically provided in various public declarations, reports, registration statements, prospectuses, information statements, and other filings with the Securities and Exchange Commission (SEC).

Given the intricate nature of these matters, it is not feasible to forecast or pinpoint all the potential risks and uncertainties that might affect the company's forward-looking statements. Thus, the descriptions provided by Weyerhaeuser regarding such risks and uncertainties should not be perceived as exhaustive. It is also explicitly stated that forward-looking statements have validity only as of the date they were made. Weyerhaeuser has expressed its stance of not undertaking any public obligation to update or revise any forward-looking statements. This applies regardless of whether the changes are due to the acquisition of new information, future happenings, or any other reason.

Nonetheless, included in this release are also discussions around Adjusted FAD, characterized as a non-GAAP financial metric. It is essential to consider that Adjusted FAD may not have a direct equivalency to similarly named measures implemented by other corporations due to possible inconsistencies in their computation. Therefore, Adjusted FAD ought to be assessed not in seclusion but rather as a component supplementing GAAP financial results.

Contact and Further Information

For those desiring a closer examination or having queries about this announcement, representatives are available for contact. Analysts are encouraged to reach out to Andy Taylor at 206-539-3907, while members of the media may connect with Nancy Thompson at 919-861-0342 for further details.

At the core of its communication, Weyerhaeuser Company acknowledges the critical importance of providing transparent and accessible information to all interested parties. As custodians of such a significant segment of the natural resources sector, the company remains dedicated to engaging with stakeholders through clear and continuous discourse.

Conclusion

In reflecting on the Weyerhaeuser Company's recent announcement, there exists a palpable sense of anticipation among shareholders. With the forthcoming quarterly dividend and the potential for future supplemental returns, the fortress of shareholder trust in Weyerhaeuser’s financial strategies stands fortified. The company's rigorous adherence to sustainable practices further accentuates its appeal as a steward of nature's bounty. However close or far individuals are from the operational forefront of Weyerhaeuser Company, the entity seems unwavering in its journey to cultivate prosperity for its shareholders through both its timeless values and evolving financial policies.

SOURCE

The details of this communication are attributed to Weyerhaeuser Company, an institution with profound ties to the forestry industry and committed to maintaining a conscientious balance between profitability and sustainability. For further information or to keep abreast of the company's progress and updates, visit Weyerhaeuser's official website.