Weyerhaeuser Company's Board of Directors declared a dividend on the company's common shares of $0.31 per share, reflecting a 6.9% increase from the prior quarterly dividend of $0.29 per share. With this increase, the company has grown its dividend by 107% since 2011.

Weyerhaeuser increases dividend by 6.9% and authorizes new $500 million share repurchase program

15:41 / August 28, 2015

Aug 28, 2015. /Lesprom Network/. Weyerhaeuser Company's Board of Directors declared a dividend on the company's common shares of $0.31 per share, reflecting a 6.9% increase from the prior quarterly dividend of $0.29 per share. With this increase, Weyerhaeuser has grown its dividend by 107% since 2011, as the company said in the press release received by Lesprom Network.

Additionally, the Board has authorized a new share repurchase program of up to $500 million of the company's common shares.

The new repurchase program commences upon completion of the existing $700 million share repurchase program authorized in 2014. As of June 30, 2015, the company had repurchased $610 million, or 87%, of its $700 million authorization.

"We are committed to returning cash to shareholders and remain confident in our ability to capitalize on operational and market improvements," said Doyle R. Simons, president and CEO. "With today's announcements, Weyerhaeuser has raised its dividend five times in four years and authorized $1.2 billion of share repurchases over the past thirteen months."

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900.

Lesprom Network

Weyerhaeuser increases dividend by 6.9% and authorizes new $500 million share repurchase program

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