FEDERAL WAY, Wash., Oct. 11, 2012 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced that its Board of Directors has authorized a 13% increase in the Company's regular quarterly cash dividend, from $0.15 per share to $0.17 per share.
The dividend of $0.17 per share on the common stock of the corporation is payable November 30, 2012, to shareholders of record at the close of business November 9, 2012.
"The Board is pleased to take this action," said Chuck Williamson, Chairman of the Board. "This increase to our dividend is consistent with the Board's objective of providing an attractive dividend, one that is sustainable and will grow over time.""We have undertaken initiatives in each of our businesses to enhance performance, and these efforts are yielding clear results," said Dan Fulton, President and Chief Executive Officer. "Although we remain cautious about the pace of recovery in the U.S. and global economies, recent trends give us greater confidence that housing fundamentals are improving. Weyerhaeuser is well positioned to capture the full benefit of the market recovery as it unfolds, and to create increased value for our shareholders." 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 2011, we employed approximately 12,800 employees in 11 countries. We have customers worldwide and generated $6.2 billion in sales from continuing operations in 2011. Our stock trades on the New York Stock exchange under the symbol WY. Learn more at www.weyerhaeuser.com. For more information contact: Media – Anthony Chavez, 253-924-7148 Analysts – Kathryn McAuley, 253-924-2058 SOURCE Weyerhaeuser Company