Timberland manager Weyerhaeuser (NYSE:WY) announced 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.
Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.