Rayonier Announces Results of Special Dividend Election

Key Terms

volume weighted average technical

A volume weighted average is an average that gives more weight to values accompanied by larger quantities—so higher-volume trades or measurements pull the average closer to the prices where more activity happened. For investors, it reveals the price level that most trading actually supported, helping judge whether a trade or price move was driven by substantial participation or by a few small trades, much like averaging grades where final exams count more than short quizzes.

operating partnership units financial

Operating partnership units are ownership stakes in a limited partnership that typically sits under a real estate investment trust or similar corporate structure; each unit represents a claim on the partnership’s cash flow and assets and is often convertible into the parent company’s common shares. For investors, these units matter because they convey economic interest and potential voting influence, can be used to compensate managers, and may dilute or change the value of common shares — think of them as second-layer shares that interact with the main stock like shares in a holding company.

special dividend financial

A special dividend is a one-time payment made by a company to its shareholders, usually when it has accumulated excess profits or cash. It is like a bonus or a reward for investors, often signaling that the company has extra funds available. This type of dividend matters because it can indicate a company's financial health or a significant change in its cash situation.

WILDLIGHT, Fla.--(BUSINESS WIRE)-- Rayonier Inc. (the “Company” or “Rayonier”) (NYSE:RYN) announced today the results of shareholder elections relating to the special dividend declared by its Board of Directors on October 14, 2025. The dividend of $1.40 per common share will be paid on December 12, 2025, to shareholders of record on October 24, 2025.

Shareholders of record on October 24, 2025 were asked to make an election to receive the dividend all in cash or all in common shares, with the total cash distribution limited to 25% of the special dividend. Shareholders who did not make an election before 5:00 p.m. Eastern Time on November 28, 2025, will receive the dividend in the form of $0.35 per share in cash and $1.05 per share in common shares.

The dividend will be paid in the form of approximately $54 million in cash and approximately 7.5 million common shares. The number of common shares included in the dividend was calculated based on the volume weighted average of the trading prices of the Company’s common shares on the New York Stock Exchange on December 1, December 2, and December 3, 2025, or $21.5073 per share. Summarized results of the dividend elections are as follows:

• To shareholders that elected to receive the dividend in all shares, Rayonier will pay the dividend in common shares.

• To shareholders that elected to receive the dividend in all cash, Rayonier will pay the dividend in the form of $0.41354454 per share in cash and $0.98645546 per share in common shares.

• Rayonier will pay fractional shares in cash.

The Company expects the dividend to be a taxable dividend to shareholders, regardless of whether a particular shareholder receives the dividend in the form of cash or common shares.

Shareholders who hold their shares through a bank, broker or nominee and have questions regarding the dividend should contact such bank, broker or nominee. If you are a registered shareholder and you have questions regarding the dividend, you may call Computershare Trust Company, N.A. at (800) 659-0158, or (201) 680-6578 for international callers.

The Company also announced today that holders of operating partnership units will receive the distribution in the form of $0.35 in cash and $1.05 per unit in operating partnership units, which corresponds to the aggregate number of the Company’s common shares and the aggregate amount of cash distributed to shareholders as a result of the special dividend.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States. As of September 30, 2025, Rayonier owned or leased under long-term agreements approximately 2.0 million acres of timberlands located in the U.S. South (1.72 million acres) and U.S. Pacific Northwest (307,000 acres). More information is available at www.rayonier.com.

Forward-Looking Statements

Certain statements in this press release regarding anticipated events, including the amount, timing and form of expected payment of dividends on the Company’s common shares, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws.

Factors that could cause actual events to differ materially from those expressed in forward-looking statements include, among other things, the factors set forth in Item 1A – Risk Factors in the Company’s most recent Annual Report on Form 10-K and similar discussion included in other reports that we subsequently file with the Securities and Exchange Commission (the “SEC”). Forward-looking statements are not guarantees of future performance or events and are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent reports filed with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251210560980/en/

Investors/Media: Collin Mings, investorrelations@rayonier.com, 904-357-9100

Source: Rayonier Inc.