Weyerhaeuser Keeps Dividend Steady
Timberland manager Weyerhaeuserannounced today its third-quarter dividend of $0.22 per share, the same rate it paid last quarter after raising the payout to investors 10% from $0.20 per share. The board of directors said the quarterly dividend is payable on Nov. 27 to the holders of record at the close of business on Nov. 1.
The board also said it would pay a dividend of $0.7969 per share on Weyerhaeuser's Series A 6.375% mandatory convertible preference shares that will be paid on Jan. 1 to holders of record at the close of business on Dec. 15.
The regular dividend payment equates to a $0.88-per-share annual dividend, yielding 3.1% based on the closing price today of Weyerhaeuser's stock.
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