Timberlands owner and operator Weyerhaeuser Company (NYSE: WY) recently announced a quarterly dividend of $0.18 per share, a 5.9% increase from the previous dividend of $0.17.
The dividend will be paid on March 18, 2022, to shareholders of record as of March 4, 2022.
Following the news, shares of the company declined marginally on Friday. The stock, however, pared almost all its losses and closed at $41.75 in the extended trading session.
The company’s annual dividend of $0.72 per share now reflects a dividend yield of 1.7% based on Friday’s closing price.
Management Commentary
The CEO of Weyerhaeuser, Devin Stockfish, said, “We’re excited to announce this increase in our quarterly dividend, which reflects our commitment to grow our sustainable base dividend by 5 percent annually through 2025. We continue to believe our dividend framework, combined with opportunistic share repurchase, will enhance our ability to drive long-term shareholder value by returning meaningful amounts of cash back to shareholders across a variety of market conditions.”
Stock Ratings
Consensus among analysts is a Strong Buy based on 6 unanimous Buys. The average Weyerhaeuser stock prediction of $45 implies upside potential of 8.3% from current levels. Shares have gained 19.1% over the past year.
Positive News Sentiment
News Sentiment for Weyerhaeuser is Very Positive based on 18 articles over the past seven days. 100% of the articles have Bullish sentiment, compared to the sector average of 64%.
Download the TipRanks mobile app now
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Read full Disclaimer & Disclosure
Related News:
Cineplex Q4 Revenue Rise 472%, Loss Shrinks
Kellogg Exceeds Q4 Expectations; Shares Pop 5%
fuboTV Secures Market Access Deal in Three More States
