Boise Cascade Company Announces Quarterly Dividend of $0.21 Per Share and Increase of Share Repurchase Authorization
October 30 2024 - 5:41PM
Business Wire
Boise Cascade Company’s (Boise Cascade or the Company) (NYSE:
BCC) Board of Directors declared a quarterly dividend of $0.21 per
share to holders of its common stock. The dividend will be paid on
December 18, 2024 to stockholders of record on December 2,
2024.
Future dividend declarations, including amount per share, record
date and payment date, will be made by the board of directors and
will depend upon, among other things, legal capital requirements
and surplus, the Company’s future operations and earnings, general
financial condition, material cash requirements, restrictions
imposed by our asset-based credit facility and the indenture
governing our senior notes, applicable laws, and other factors as
the board of directors may deem relevant.
The board of directors also authorized the repurchase of an
additional 1.4 million shares of our common stock under our
existing common stock repurchase program. From January 1, 2024 to
October 30, 2024, the Company repurchased 1.28 million shares of
our common stock at a cost of approximately $165 million. This
authorization replenishes our existing common stock repurchase
program, bringing the total repurchase authorization to
approximately 2 million shares, which represents approximately 5%
of shares outstanding.
Share repurchases may be made on an opportunistic basis, through
open market transactions, privately negotiated transactions, or by
other means in accordance with applicable federal securities laws.
We are not obligated to purchase any shares and there is no set
date that the program will expire. Our board of directors may
increase or decrease the number of shares under the program or
terminate the program in its discretion at any time.
About Boise Cascade
Boise Cascade is one of the largest producers of engineered wood
products and plywood in North America and a leading U.S. wholesale
distributor of building products. For more information, please
visit our website at www.bc.com.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements are based upon the current beliefs and
expectations of our management and are subject to significant risks
and uncertainties. The accuracy of such statements is subject to a
number of risks, uncertainties, and assumptions that could cause
our actual results to differ materially from those projected,
including, but not limited to, prices for building products,
changes in the competitive position of our products, commodity
input costs, the effect of general economic conditions, mortgage
rates and availability, housing demand, housing vacancy rates,
governmental regulations, unforeseen production disruptions, as
well as natural disasters. These and other factors that could cause
actual results to differ materially from such forward-looking
statements are discussed in greater detail in our filings with the
Securities and Exchange Commission. Forward-looking statements
speak only as of the date of this press release. We undertake no
obligation to revise them in light of new information. Finally, we
undertake no obligation to review or confirm analyst expectations
or estimates that might be derived from this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20241030052574/en/
Investor Relations Contact Chris Forrey
investor@bc.com
Media Contact Amy Evans mediarelations@bc.com
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