Weyerhaeuser Declares Special Dividend

Weyerhaeuser Co. (WY) moved a step forward in its plan to convert to a real estate investment trust (“REIT”) by rewarding shareholders through a one-time dividend payment. Weyerhaeuser’s board of directors declared the special dividend amounting to $5.6 billion payable on September 1. The special dividend is inclusive of the regular quarterly dividend payment of approximately $11 million, payable to shareholders of record as of July 22, 2010. The shareholders are given options for stock or cash selection, with total cash payments capped at 10%, or $560 million. Pro-rata distribution will be made in case cash elections exceed the total approved amount.... Read more

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