Weyerhaeuser Announces Payment of the Special Dividend— Weyerhaeuser Company (NYSE: WY) today announced payment of the previously announced $5.6 billion special dividend. The dividend consisted of approximately 324 million shares of common stock and $560 million in cash.
The special dividend is payable to shareholders of record as of July 22 in connection with the company's previously announced intent to convert to a real estate investment trust (REIT). Based on the shares outstanding on July 22, the dividend value per share is $26.46341416. The shareholders who elected to receive the special dividend in cash will receive $4.03285264 per share in cash and 1.44340808 per share in stock. Those receiving the dividend in stock will receive 1.70292240 per share in stock.
After paying the dividend, the company will have approximately 536 million common shares outstanding.
Weyerhaeuser Company, one of the world’s largest forest products companies, began operations in 1900. We grow and harvest trees, build homes and make a range of forest products essential to everyday lives. We manage our timberland on a sustainable basis in compliance with internationally recognized forestry standards. At the end of 2009, we employed approximately 14,900 employees in 10 countries. We have customers worldwide and generated $5.5 billion in sales in 2009. Our stock trades on the New York Stock exchange under the symbol WY. Additional information about us is available at http://www.weyerhaeuser.com.