Weyerhaeuser Company (NYSE: WY) announced that its board of directors declared a quarterly base cash dividend of $0.18 per share on the common stock of the company, payable in cash on September 16, 2022, to holders of record of such common stock as of the close of business on September 2, 2022.
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 an additional return of variable cash to achieve a targeted total annual 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 either in the form of a supplemental dividend, which will, in general, be declared and paid annually in the first quarter based on prior year financial results, or through a combination of supplemental dividend and opportunistic share repurchase.
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 2021, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.