West Fraser Declares Dividend

Rhea-AI Summary

West Fraser Timber Co. (TSX and NYSE: WFG) has announced a quarterly dividend of US$0.32 per share on both Common and Class B Common shares. The dividend is payable on October 11, 2024, to shareholders of record as of September 26, 2024. These dividends are designated as eligible dividends under Canadian tax law. While declared and payable in U.S. dollars, shareholders have the option to receive their dividends in Canadian dollars. Detailed information about the election procedure is available on the company's website under the Investors section.

Positive

• Consistent quarterly dividend payout of US$0.32 per share
• Dividends are eligible for favorable tax treatment under Canadian law
• Flexibility for shareholders to receive dividends in USD or CAD

Negative

• None.

News Market Reaction – WFG

-0.83%

1 alert

-0.83% News Effect

On the day this news was published, WFG declined 0.83%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, BC, Sept. 10, 2024 /PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) has declared a quarterly dividend of US$0.32 per share on the Common shares and Class B Common shares in the capital of the Company, payable on October 11, 2024 to shareholders of record on September 26, 2024.

Dividends are designated to be eligible dividends pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends.

Dividends are declared and payable in U.S. dollars. Shareholders may elect to receive their dividends in Canadian dollars. Details regarding the election procedure are available on our website at www.westfraser.com in the "Investors/Stock Information/Dividends" section.

About West Fraser
West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe, which promotes sustainable forest practices in its operations. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials. For more information about West Fraser, visit: westfraser.com.

View original content:https://www.prnewswire.com/news-releases/west-fraser-declares-dividend-302244309.html

SOURCE West Fraser Timber Co. Ltd.

FAQ

What is the amount of West Fraser's (WFG) quarterly dividend for 2024?

West Fraser (WFG) has declared a quarterly dividend of US$0.32 per share for both Common and Class B Common shares.

When is the payment date for West Fraser's (WFG) latest dividend?

The dividend is payable on October 11, 2024, to shareholders of record as of September 26, 2024.

Can shareholders choose the currency for West Fraser's (WFG) dividend payment?

Yes, while dividends are declared and payable in U.S. dollars, shareholders can elect to receive their dividends in Canadian dollars.

Are West Fraser's (WFG) dividends eligible for tax benefits in Canada?

Yes, the dividends are designated as eligible dividends pursuant to Canadian tax laws, which may offer tax advantages to shareholders.