Aug 24, 2010. /Lesprom Network/. Weyerhaeuser Company announced the preliminary results of the shareholder election relating to a special dividend payable in connection with the company's previously announced intent to convert to a real estate investment trust (REIT). Shareholders of record at the close of business on July 22 were able to elect stock or cash for the special dividend of $5.6 billion, with the total cash distribution limited to 10 percent, or $560 million. Approximately 138.9 million shares, or 66% of Weyerhaeuser shares outstanding on the record date, elected to receive the special dividend in the form of cash. Based on the election results, shareholders who elected cash will receive approximately $4.03 per share, or 15% of their special dividend, in cash and the remaining amount in stock. The remaining shares, approximately 72.7 million or 34%, will receive the special dividend entirely in stock. Weyerhaeuser expects to pay the Special Dividend on September 1, 2010. Weyerhaeuser Company, one of the world’s largest forest products companies, began operations in 1900.