Welcome to our dedicated page for West Fraser Timb news (Ticker: WFG), a resource for investors and traders seeking the latest updates and insights on West Fraser Timb stock.
West Fraser Timber Co. Ltd. (WFG) is a diversified wood products company listed on the TSX and NYSE. Company news releases and regulatory filings provide regular updates on its lumber, engineered wood products, and pulp and paper operations across Canada, the United States, the United Kingdom and Europe. This news page aggregates those disclosures so readers can follow how market conditions, trade policies and operational decisions affect the business.
Recent West Fraser news has covered topics such as quarterly financial results, adjustments to lumber and OSB capacity, and guidance for shipment volumes in its Lumber, North America Engineered Wood Products and Europe Engineered Wood Products segments. The company also reports on capital expenditures, share repurchases under its normal course issuer bid, and dividends on its Common and Class B Common shares.
Operational announcements have included decisions to curtail or close specific lumber and OSB mills in response to timber supply challenges and soft demand, as well as asset and goodwill impairment charges related to these changes. Other releases discuss the impact of countervailing and antidumping duties on Canadian softwood lumber exports to the U.S., and the effect of Section 232 tariffs on imported softwood timber and lumber.
In addition to financial and capacity updates, West Fraser issues news about partnerships and forest stewardship initiatives, such as its collaboration with Lake Babine Nation Forestry Limited Partnership on a First Nations Woodland Licence in British Columbia. Investors and observers can use this news feed to review the company’s own descriptions of its operating environment, risk factors and strategic responses over time.
West Fraser Timber has declared a quarterly dividend of C$0.25 per share, payable on October 5, 2021, to shareholders of record on September 23, 2021. The Company is adjusting output at various facilities due to wildfires in British Columbia and slowing orders, affecting production by 5%-10% in early Q3. These adjustments will persist through the quarter depending on external factors. A further operational update is expected with the Q3 earnings release on October 27.
West Fraser Timber Co. Ltd. (WFG) will host a virtual analyst and investor event on September 16, 2021, starting at 11:00 a.m. PT. This two-hour event will feature updates on strategic initiatives, Norbord integration, and sustainability efforts. Senior management will present and engage with participants during a Q&A session. Interested parties can register via West Fraser's official website. The company operates over 60 facilities across several regions, producing various wood products for construction and industrial needs.
West Fraser Timber Co. Ltd. (WFG) announced the completion of its substantial issuer bid (SIB), purchasing 10,309,278 common shares at C$97.00 each for a total of C$1.0 billion. This represents approximately 8.7% of total outstanding shares. The SIB was oversubscribed, with 13,708,784 shares tendered. Shareholders who submitted auction tenders at or below C$97.00 had about 91% of their shares accepted. Payment is expected around August 23, 2021. The entire amount of the deemed dividend from the share repurchase is designated an 'eligible dividend' for Canadian tax purposes.
West Fraser Timber Co. Ltd. (WFG) announced preliminary results from its substantial issuer bid (SIB) to buy back C$1 billion of its common shares. The SIB expired on August 17, 2021, with approximately 10.3 million shares expected to be purchased at C$97 each, totaling C$1 billion. The offer was oversubscribed, with about 13.7 million shares tendered, leading to a proration factor where successful auction tenders will see around 91% of their shares purchased. The SIB is expected to result in a deemed dividend of C$17.49 per share for tax purposes.
West Fraser Timber Co. Ltd. (WFG) reported significant second quarter 2021 results, with sales climbing 61% to $3.779 billion and earnings rising to $1.488 billion, equating to 39% of sales. Adjusted EBITDA surged to $2.160 billion. The company repurchased $233 million of shares and increased its Normal Course Issuer Bid (NCIB) authorization to 9.58 million shares. Liquidity improved to $3.392 billion with a net debt to total capital ratio of (28)%. However, ongoing wildfires in Western Canada may cause production disruptions and affect future shipments.
West Fraser Timber Co. Ltd. (WFG) will hold an analysts' conference call on July 29, 2021, at 8:30 a.m. PT to discuss its second quarter 2021 financial results, which will be released on July 28, 2021. Stakeholders can join by dialing 1-888-390-0605 or (416) 764-8609 for toll access. The call will be chaired by Ray Ferris, President and CEO, and will also feature a Q&A session for analysts. West Fraser operates over 60 facilities across multiple countries, producing various wood products essential for construction and industrial applications.
West Fraser Timber Co. announced a substantial issuer bid to purchase up to C$1.0 billion of its common shares. The offer will run from July 12, 2021 to August 17, 2021, with a purchase price range of C$85.00 to C$98.00 per share. This represents a 3% discount and a 12% premium over its recent trading price. The bid aims to buy back approximately 10% of issued shares. Shareholders can opt to receive payments in either Canadian or U.S. dollars. The company will use available cash for this purpose, suspending its normal course issuer bid during the offer period.
West Fraser has announced a quarterly dividend increase to C$0.25 per share from C$0.20, effective July 6, 2021, for shareholders on record by June 21, 2021. Additionally, the company has received approval to increase its normal course issuer bid to purchase up to 9,582,470 shares, up from the previous authorization of 6,044,000 shares. The buyback will commence on June 11, 2021, and run until February 16, 2022, enhancing shareholder value by potentially reducing outstanding shares and boosting earnings per share (EPS).
West Fraser Timber Co. (TSX: WFG) reported a robust Q1 2021, with sales soaring 81% to $2.343 billion and earnings rising to $665 million, representing 28% of sales. Adjusted EBITDA reached $1.008 billion, reflecting substantial growth from the previous quarter. The acquisition of Norbord was finalized on February 1, 2021, enhancing operational capabilities. The company maintained strong liquidity of $2.551 billion and repurchased $102 million in shares. Strategic investments are expected to drive further growth, despite challenges from increased raw material costs and integration risks.
West Fraser Timber Co. Ltd. (WFG) announced the voting results from its virtual Annual General Meeting held on April 20, 2021. A total of 97.7 million shares were voted, representing 79.32% of all outstanding shares. Shareholders approved all items, including the election of all director nominees, with Hank Ketcham receiving 98% of votes in favor. The appointment of PricewaterhouseCoopers LLP as auditor was also approved. Additionally, 99% of votes supported the Company's executive compensation approach as detailed in the March 8, 2021, management circular.