VANCOUVER, BC, June 12, 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
July 12, 2024 to shareholders of record on June 26, 2024.
The quarterly dividend has been increased from the prior
US$0.30 per share in light of the
share count reduction resulting from execution of recent normal
course issuer bids.
"We are pleased to increase our dividend this quarter," said
Sean McLaren, West Fraser's
President and CEO. "A sustainable quarterly dividend is a key
priority within our capital allocation strategy."
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. The Company produces lumber,
engineered wood products (OSB, LVL, MDF, plywood, and
particleboard), pulp, newsprint, wood chips, other residuals, and
renewable energy from responsibly sourced wood fibre. 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.
Forward-Looking Statements
This news release contains forward-looking information or
forward-looking statements (collectively, "forward‑looking
statements") within the meaning of applicable securities laws.
These forward-looking statements include, among other things, our
ability to execute our capital allocation strategy, including our
ability to maintain and sustain our quarterly dividend. Any such
forward-looking statements are based on information currently
available to us and are based on assumptions and analyses made by
us considering our experience and our perception of historical
trends and current conditions and are subject to inherent risks and
uncertainties including, changes in the market price of the
commodities that we sell and purchase, variations in our operating
results, financial condition or dividend policies, ability to
return capital to shareholders, including our ability to maintain
and sustain the quarterly dividend, general business and economic
conditions and the future operation and financial performance of
the Company generally. Readers should also refer to the risk
factors set forth in the Company's annual information form and
management's discussion and analysis for the year ended
December 31, 2023, each dated
February 14, 2024, as updated in our
quarterly reports from time to time and other documents, available
at SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov/edgar). There
can be no assurance that the plans, intentions, or expectations
upon which forward-looking statements are based will be realized.
Actual results may differ, and the difference may be material and
adverse to the Company and its shareholders. Except as may be
required by law, the Company undertakes no obligation to publicly
update or revise any forward-looking statements.
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SOURCE West Fraser Timber Co. Ltd.
