West Fraser Announces Quarterly Dividend Payment for 2024

Author: Owen Jenkins Updated: 09-10-2024 05:09 PM

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.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.