West Fraser Announces Quarterly Dividend Payment for 2024
West Fraser Timber Co. Declares Quarterly Dividend
West Fraser Timber Co. Ltd. (TSX and NYSE: WFG) has officially announced a quarterly dividend of US$0.32 per share. This dividend is applicable to both Common shares and Class B Common shares of the company. The payment is designated for execution on October 11, 2024, and will be issued to shareholders of record as of September 26, 2024.
Dividend Specifications and Currency Options
This dividend has been categorized as an eligible dividend in accordance with subsection 89(14) of the Income Tax Act relevant to Canada, and adheres to any pertinent provincial legislation concerning eligible dividends. The payments are made in U.S. dollars, with shareholders having the option to receive their dividends in Canadian dollars if they choose that route.
Electing for Currency Options
For shareholders wishing to opt for Canadian dollars instead of U.S. dollars for their dividends, detailed procedures are outlined on West Fraser's official website. This information can be accessed in the section pertaining to 'Investors/Stock Information/Dividends'.
Company Overview
West Fraser is not just a timber company; it is a diversified wood products manufacturer that operates more than 60 facilities across various regions including the United States, the United Kingdom, and Europe. The company is committed to sustainable forest management practices throughout its operations, reflecting its dedication to the environment.
Product Range and Market Applications
Producing a vast array of products, West Fraser specializes in lumber, engineered wood products such as OSB, LVL, MDF, plywood, and particleboard. Additionally, the company manufactures pulp, newsprint, wood chips, and other residuals, including renewable energy materials. Their products find utility in home construction, repair, remodeling, and various industrial applications as well as in paper products like tissues and box materials.
Commitment to Innovation and Sustainability
West Fraser's commitment to innovation is evident in their continued investment in technology and sustainable practices across all their facilities. This dedication not only supports their operational efficiency but also positions them as a leader in the industry striving for environmental stewardship.
Looking Ahead
As West Fraser Timber Co. Ltd. looks to the future, it is focused on maintaining strong performance and delivering value to its shareholders. The quarterly dividend reflects the company’s ongoing success and commitment to rewarding its investors even amidst a fluctuating market landscape.
Frequently Asked Questions
What is the declared dividend amount for West Fraser?
The declared dividend amount is US$0.32 per share for both Common and Class B Common shares.
When will the dividends be paid out?
The dividends are scheduled to be paid on October 11, 2024, to shareholders of record as of September 26, 2024.
Can shareholders choose the currency for their dividends?
Yes, shareholders can elect to receive their dividends in Canadian dollars instead of U.S. dollars.
What types of products does West Fraser produce?
West Fraser produces a range of products including lumber, engineered wood products, pulp, newsprint, and renewable energy.
What are West Fraser's commitments regarding sustainability?
West Fraser is dedicated to sustainable forest practices and continually invests in innovative technologies to ensure environmental stewardship in their operations.
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