Feb 15, 2013. /Lesprom Network/. West Fraser Timber Co. Ltd. reported earnings of $22 million or $0.51 per share on sales of $773 million in the 4Q 2012 and earnings of $87 million or $2.02 per share, on sales of $3 billion for 2012, as the company said in a press release received by Lesprom Network. "In the second half of 2012 we saw encouraging signs that the U.S. housing market is recovering," said Hank Ketcham, West Fraser's Chairman and CEO. "This has led to gradual improvement of results from our building products operations." In the quarter lumber operations generated operating earnings of $52 million and EBITDA of $75 million. The improvement in our results reflects improved prices for SPF and SYP lumber. The panel segment, which includes plywood, LVL and MDF, generated operating earnings in the quarter of $7 million and EBITDA of $12 million as Canadian dollar plywood prices weakened from 3Q levels. Pulp and paper operations generated operating earnings in the quarter of $13 million and EBITDA of $24 million. Improved NBSK pricing was offset by weakening BCTMP and newsprint markets. The Board of Directors of the Company has declared a dividend of $0.14 per share on the Common shares and the Class B Common shares in the capital of the Company, payable on April 5, 2013 to shareholders of record on March 22, 2013. West Fraser is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.