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Weyerhaeuser increases dividend by 6.9% and authorizes new $500 million share repurchase program

FEDERAL WAY, Wash., Aug. 27, 2015 /PRNewswire/ -- Weyerhaeuser Company (WY) today announced that its board of directors declared a dividend on the company's common shares of $0.31 per share, reflecting a 6.9 percent increase from the prior quarterly dividend of $0.29 per share. With this increase, the company has grown its dividend by 107 percent since 2011. The dividend is payable in cash on September 25, 2015, to holders of record of such common shares at the close of business on September 11, 2015. The company's board of directors has also declared a dividend of $0.7969 per share on the company's 6.375% Mandatory Convertible Preference Shares, Series A, which will be payable in cash on October 1, 2015 to holders of record of such mandatory convertible preference shares at the close of business on September 15, 2015.

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Weyerhaeuser Company logo.

Additionally, the board has authorized a new share repurchase program of up to $500 million of the company's common shares. The new repurchase program commences upon completion of the existing $700 million share repurchase program authorized in 2014. As of June 30, 2015, the company had repurchased $610 million...