SEATTLE, Aug. 23, 2018 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced that its board of directors declared a dividend of $0.34 per share on the common stock of the company, reflecting a 6.3 percent increase from the prior quarterly dividend of $0.32 per share.
The dividend is payable in cash on Sept. 28, 2018, to holders of record of such common stock as of the close of business on Sept. 14, 2018.
"In recognition of our strong cash flow generation and the sustainable improvements in our operating performance, our board of directors has voted to raise our quarterly dividend for the seventh time in seven years," said Doyle R. Simons, president and chief executive officer. "Since 2011 we've increased our dividend by more than 125 percent, consistent with our commitment to return cash to shareholders through a sustainable and growing dividend."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.4 million acres of timberlands in the U.S., and manage additional timberlands 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 products. Our company is a real estate investment trust. In February 2016, we merged with Plum Creek Timber Company, Inc. In 2017, we generated $7.2 billion in net sales and employed approximately 9,300 people who serve customers worldwide. We are listed on the North American and World Dow Jones Sustainability Indices. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
SOURCE Weyerhaeuser Company