Weyerhaeuser Company reports on a timberlands and wood products business operated as a real estate investment trust. The company owns or controls more than 10 million acres of timberlands in the United States and manages additional public timberlands under long-term licenses in Canada, while also manufacturing wood products in North America.
Recurring Weyerhaeuser news includes quarterly and annual results, dividend declarations and tax treatment, capital return framework updates, investor presentations, timberlands and land-management activity, climate solutions, real estate, energy and natural resources, and product development in engineered wood and other building materials.
Weyerhaeuser Company (NYSE: WY) announced that its 2020 dividend distributions totaling $0.51 per share are classified as Capital Gain Distributions, specifically $0.34 on March 20 and $0.17 on December 18. These distributions are considered long-term capital gains and are not eligible for the 20% qualified business income deduction per Section 199A. Shareholders are advised to consult tax advisors regarding the implications of these distributions on their tax situations.
Weyerhaeuser Company (NYSE: WY) will announce its fourth quarter 2020 results on January 29, 2021, prior to market opening. A live conference call will take place at 7 a.m. Pacific (10 a.m. Eastern) to discuss these results. Investors and analysts can join the call using the provided dial-in numbers. Weyerhaeuser is a leading timberland owner and a major wood products manufacturer, with approximately 11 million acres of timberland under its management.
Weyerhaeuser Company (NYSE: WY) has completed two significant timberland transactions in Oregon. The company purchased 85,000 acres and sold 149,000 acres, with a net cost of approximately $40 million. This strategic move is aimed at enhancing Weyerhaeuser's portfolio and streamlining operational costs while gaining access to crucial domestic and export markets. CEO Devin W. Stockfish emphasized the importance of Oregon in their operations and the long-term value these transactions are expected to bring to shareholders.
Weyerhaeuser Company (NYSE: WY) has appointed Deidra C. Merriwether, a senior vice president at Grainger, to its board of directors, effective immediately. This decision follows the upcoming retirement of a current board member in 2021. Merriwether, who has extensive experience in finance and customer relations, will bring valuable insight and leadership to the board. Her role at Grainger includes overseeing North American sales and managing significant responsibilities across Latin American and Canadian markets. This move aims to enhance Weyerhaeuser's strategic direction as a leading timberland owner and wood products manufacturer.
Devin Stockfish, the CEO of Weyerhaeuser Company (NYSE: WY), will represent the company at the REITworld: 2020 Annual Conference on November 17, 2020. The conference will be held virtually, with Stockfish's presentation scheduled for 11:30 a.m. Eastern time. Investors can access the webcast and presentation materials through the company's investor relations website. Weyerhaeuser is a leading timberland owner and wood products manufacturer.
Weyerhaeuser Company (NYSE: WY) declared a dividend of $0.17 per share, payable on December 18, 2020. Shareholders must be on record by December 4, 2020. The company is introducing a new dividend framework aimed at enhancing shareholder returns across varying market conditions. This includes a quarterly base cash dividend, supplemented by a variable return targeting 75-80% of annual Adjusted Funds Available for Distribution (Adjusted FAD). The first supplemental dividend is expected in Q1 2022.
Weyerhaeuser Company (NYSE: WY) reported strong third-quarter 2020 net earnings of $283 million, or 38 cents per diluted share, up from $99 million a year prior. Excluding special items, net earnings reached $386 million. The company's Adjusted EBITDA rose significantly to $745 million compared to $308 million in Q3 2019. Despite challenges from wildfires and COVID-19, all business segments performed well. Weyerhaeuser reinitiated its quarterly dividend at $0.17 per share, signaling confidence in cash flow and financial stability moving forward.
Weyerhaeuser Company (NYSE: WY) plans to release its third quarter 2020 results on October 30, before the market opens. A live webcast and conference call will occur at 7 a.m. Pacific to discuss these results. Weyerhaeuser, a leading timberland owner and wood products manufacturer, is committed to sustainable management of its approximately 11 million acres of timberlands in the U.S. and Canada.
Weyerhaeuser Company (NYSE: WY) announced two timberland transactions involving a purchase of 85,000 acres and a sale of 149,000 acres in Oregon for a net cost of $40 million. CEO Devin W. Stockfish highlighted that the acquired lands offer low operating costs and access to key markets, aiming to enhance the company's timberland portfolio. The transactions are expected to close in Q4 2020, subject to customary conditions, and are anticipated to provide both immediate and long-term shareholder value.
Weyerhaeuser Company (NYSE: WY) announced that its CEO, Devin Stockfish, will represent the company at the RBC Capital Markets 2020 Global Industrials Virtual Conference on September 14, 2020, at 1 p.m. Eastern Time. The event will provide insights into the company's operations and future outlook. Investors can access the webcast and related materials through the company's investor relations website.
As one of the largest private owners of timberlands, Weyerhaeuser generated $6.6 billion in net sales in 2019.