SEATTLE, Feb. 13,
2025 /PRNewswire/ -- Weyerhaeuser
Company (NYSE: WY) today announced that its board of directors
declared a quarterly base cash dividend of $0.21 per share on
the common stock of the company, reflecting a 5 percent increase
from the prior quarterly dividend of $0.20 per share.
The dividend is payable in cash on March 21, 2025, to
holders of record of such common stock as of the close of business
on March 7, 2025.
"We're pleased to announce this increase in our quarterly base
dividend," said Devin W. Stockfish, president and chief executive
officer. "With today's announcement, we have delivered on the
commitment we set in 2021 to grow our sustainable base dividend by
5 percent annually through 2025. We continue to believe our
dividend framework, combined with opportunistic share repurchase,
will enhance our ability to drive long-term shareholder value by
returning meaningful and appropriate amounts of cash back to
shareholders across a variety of market conditions."
Under Weyerhaeuser's cash return framework, the company expects
to supplement its quarterly base cash dividend, as appropriate,
with an additional return of variable cash to achieve a targeted
total return to shareholders of 75 to 80 percent of annual Adjusted
Funds Available for Distribution (Adjusted FAD). The company has
the flexibility in its capital allocation framework to return this
additional cash in the form of a supplemental cash dividend,
opportunistic share repurchase, or a combination of the two.
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 and today owns or controls approximately 10.4 million acres of
timberlands in the U.S., as well as additional public timberlands
managed under long-term licenses in Canada. Weyerhaeuser has been a global leader
in sustainability for more than a century and manages 100 percent
of its timberlands on a fully sustainable basis in compliance with
internationally recognized sustainable forestry standards.
Weyerhaeuser is also one of the largest manufacturers of wood
products in North America and
operates additional business lines around product distribution,
climate solutions, real estate, energy and natural resources,
among others. In 2024, the company generated $7.1 billion in net sales and employed
approximately 9,400 people who serve customers worldwide. Operated
as a real estate investment trust, Weyerhaeuser's 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, as amended,
concerning the amount, timing and occurrence of future quarterly
and supplemental cash dividends as well as the company's dividend
framework and future share repurchases. Forward-looking statements
are generally identified by words such as "expects" and "targeted,"
references to events occurring on specified future dates and other
words and expressions referencing future events or occurrences. All
forward-looking statements are based on our current expectations
and assumptions and are not guarantees of future events or
performance. The realization of our expectations and the accuracy
of our assumptions 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 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, and other factors not described herein or
elsewhere because they are not currently known to us or because we
currently judge them to be immaterial.
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 –
Andy Taylor, 206-539-3907
Media – Nancy Thompson,
919-861-0342
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SOURCE Weyerhaeuser Company
