Weyerhaeuser Raises Dividend 10%

Timberland manager also declared a quarterly payment on its Series A preferred stock.

By Rich Duprey – Aug 14, 2013 at 11:11PM EST

Timberland manager Weyerhaeuser (WY +1.82%) announced today its third-quarter dividend of $0.22 per share, a 10% increase in the payout made to investors last quarter of $0.20 per share.

The board of directors said the quarterly dividend is payable on Sept. 13 to the holders of record at the close of business on Aug. 30. The board also declared a dividend of $0.8588 per share on its 6.375% Series A mandatory convertible preference shares, which will be paid on Oct. 1 to holders of record at the close of business on Sept. 15.

The regular dividend payment equates to a $0.88-per-share annual dividend, yielding 3.2% based on the closing price today of Weyerhaeuser's stock.

WY Dividend data by YCharts

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Weyerhaeuser Raises Dividend 10%

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