Weyerhaeuser Company Declares Regular Quarterly DividendOf 5 Cents Per Share on Increased Share Count— The board of directors of Weyerhaeuser Company (NYSE: WY) today declared a regular quarterly dividend of five cents per share on the common stock of the corporation. The dividend is payable Dec. 1 to shareholders of record at the close of business Nov. 5.
The dividend returns $27 million to shareholders, an increase from the $11 million previously paid to shareholders the past several quarters. The dividend is payable on the company’s current share count of 536 million shares compared with 212 million shares in the prior quarters. The share count increased with the special dividend payment on Sept. 1.
Weyerhaeuser will provide guidance on future dividends in December 2010.
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.