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.
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
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:
Beth Baum, 206-539-4450
Media – Nancy Thompson,
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SOURCE Weyerhaeuser Company