Weyerhaeuser (NYSE: WY ) is about to make its shareholders richer. The company will distribute a new quarterly dividend of $0.20 per share of its stock on May 31 to shareholders of record as of May 10. That's an 18% increase over the previous disbursement, which was $0.17 in both of the previous two quarters. Prior to that, the firm handed out $0.15 per share.
The company attributed some of the largesse to a change in corporate structure. In the press release announcing the new payout, Chairman Chuck Williamson pointed out that, "since setting our initial dividend as a REIT, we have grown the dividend by more than 33[%]." This transformation was effected in 2011.
The new distribution annualizes to $0.80 per share. That yields 2.5% at Weyerhaeuser's current stock price of $31.71.