FEDERAL WAY, Wash., Aug. 14, 2013 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced its board of directors has authorized a 10 percent increase in the company's quarterly dividend on its Common Shares, from $0.20 per share to $0.22 per share. The board declared a dividend of $0.22 per share on the Common Stock of the company, payable in cash on Sept. 13, 2013, to holders of record of such Common Shares at the close of business on Aug. 30, 2013. Additionally, the company's board of directors has declared a dividend of $0.8588 per share on the company's 6.375% Mandatory Convertible Preference Shares, Series A, which will be payable in cash on Oct. 1, 2013 to holders of record of such mandatory convertible preference shares at the close of business on Sept. 15, 2013.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control nearly 7 million acres of timberlands, primarily in the U.S., and manage another 14 million acres under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood and cellulose fibers products, and we develop real estate, primarily as a builder of single-family homes. Our company is a real estate investment trust. In 2012, we generated $7.1 billion in sales and employed approximately 13,200 people who serve customers worldwide. We are listed on the Dow Jones World Sustainability Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
SOURCE Weyerhaeuser Company