Key Developments: Weyerhaeuser Co (WY.N)

WY.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Weyerhaeuser Co increases dividend; announces $700 million share repurchase program
Wednesday, 13 Aug 2014 08:00pm EDT 

Weyerhaeuser Co:Says that it has declared a dividend on the company's common shares of $0.29 per share.Says the dividend is payable in cash on Sept. 12, 2014, to holders of record of such common shares at the close of business on Aug. 29, 2014.Says the company also declared a dividend of $0.7969 per share on the company's 6.375 pct. Mandatory Convertible Preference Shares, Series A, which will be payable in cash on Oct. 1, 2014.Payable to holders of record of such mandatory convertible preference shares at the close of business on Sept. 15, 2014.Says it has authorized a new share repurchase program of up to $700 million of the company's common shares.Repurchases may be made through a variety of methods, including open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions or pursuant to 10b5-1 trading plans.  Full Article

Weyerhaeuser closes transaction to separate homebuilding business with TRI Pointe Homes Inc
Monday, 7 Jul 2014 12:17pm EDT 

Weyerhaeuser Co:Closes Reverse Morris Trust transaction, pursuant to which a wholly owned subsidiary of TRI Pointe Homes Inc. merged with and into Weyerhaeuser Real Estate Company (WRECO).Weyerhaeuser's homebuilding business and an indirect wholly owned subsidiary, with WRECO surviving the merger and becoming a wholly owned subsidiary of TRI Pointe.Closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions.Pursuant to the exchange offer, which expired on July 2, 2014, Weyerhaeuser accepted 58,813,151 validly tendered and not properly withdrawn Weyerhaeuser common shares in exchange for 100,000,000 WRECO common shares.Because more than 58,813,151 Weyerhaeuser common shares were tendered, all WRECO common shares owned by Weyerhaeuser are expected to be delivered to Weyerhaeuser shareholders who tendered their Weyerhaeuser common shares in the exchange offer.No WRECO common shares are expected to be delivered to Weyerhaeuser shareholders as a pro rata dividend.As a result of the successful exchange offer, Weyerhaeuser expects to reduce its outstanding common shares by 58,813,151 shares.  Full Article

Weyerhaeuser announces intention to split-off Weyerhaeuser Real Estate Company
Monday, 12 May 2014 04:20pm EDT 

Weyerhaeuser Co:Announced its intention to distribute via a split-off transaction all of the issued and outstanding shares of Weyerhaeuser Real Estate Company (WRECO), an indirect wholly owned subsidiary of Weyerhaeuser.The split-off is in connection with the previously announced Reverse Morris Trust transaction, pursuant to which a wholly owned subsidiary of TRI Pointe Homes, Inc will merge with and into WRECO, with WRECO surviving the merger and becoming a wholly owned subsidiary of TRI Pointe.  Full Article

Weyerhaeuser Co declares dividend
Thursday, 10 Apr 2014 04:17pm EDT 

Weyerhaeuser Co:Declares a dividend of $0.22 per share.Payable on May 30 to holders of record on May 9.  Full Article

Weyerhaeuser Co declares dividend
Thursday, 13 Feb 2014 03:49pm EST 

Weyerhaeuser Co:Says the board has declared a dividend of $0.22 per share on the Common Stock of the company.Says it is payable in cash on Mar. 14 to holders of record of such common shares at the close of business on Feb. 28.Says additionally the company's board of directors has declared a dividend of $0.7969 per share on the company's 6.375% Mandatory Convertible Preference Shares, Series A.Says it will be payable in cash on Apr. 1 to holders of record of such mandatory convertible preference shares at the close of business on Mar. 15.  Full Article

Weyerhaeuser Co Declares Dividend
Wednesday, 9 Oct 2013 07:59pm EDT 

Weyerhaeuser Co announced that its Board of Directors declared a dividend of $0.22per share on the Common Stock of the Company, payable in cash on November 27, 2013 to holders of record of such common shares at the close of business on November 1, 2013. Additionally, the Company's board of directors has 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 January 1, 2014 to holders of record of such mandatory convertible preference shares at the close of business on December 15, 2013.  Full Article

Weyerhaeuser Co Authorizes 10% Increased Quarterly Dividend
Wednesday, 14 Aug 2013 07:37pm EDT 

Weyerhaeuser Co announced its board of directors has authorized a 10% increase in the quarterly dividend on its Common Shares, from $0.20 per share to $0.22 per share. The board declared a dividend of $0.22 per share on the Common Stock, payable in cash on September 13, 2013, to holders of record of such Common Shares at the close of business on August 30, 2013. Additionally, the board of directors has declared a dividend of $0.8588 per share on the 6.375% Mandatory Convertible Preference Shares, Series A, which will be payable in cash on October 1, 2013 to holders of record of such mandatory convertible preference shares at the close of business on September 15, 2013.  Full Article

Weyerhaeuser Co Completes Acquisition Of Longview Timber LLC
Tuesday, 23 Jul 2013 07:30pm EDT 

Weyerhaeuser Co announced the completion of acquisition of Longview Timber LLC from affiliates of Brookfield Asset Management. The acquisition includes approximately 645,000 acres of high-quality timberlands in Washington and Oregon, which expand Weyerhaeuser's timber holdings in the Pacific Northwest by 33% to approximately 2.6 million acres. The transaction increases the total amount of U.S. timberlands Weyerhaeuser owns or controls to approximately 6.6 million acres. Financial terms of the transaction were not disclosed.  Full Article

Weyerhaeuser Co Announces Pricing of Public Offering of Common Shares
Tuesday, 18 Jun 2013 11:44pm EDT 

Weyerhaeuser Co announced the pricing of the public offering of 29,000,000 common shares at $27.75 per share. Weyerhaeuser raised approximately $805 million of gross proceeds from the offering. In addition, the underwriters of the offering have an option to purchase up to an additional 4,350,000 common shares. The net proceeds will be used as partial consideration to finance the previously announced acquisition of all of the equity interest in Longview Timber LLC. The offering is expected to close on June 24, 2013, subject to customary closing conditions. Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are the joint book-running managers on the offering.  Full Article

Weyerhaeuser Co Announces Pricing of Public Offering of Mandatory Convertible Preference Shares
Tuesday, 18 Jun 2013 11:39pm EDT 

Weyerhaeuser Co announced the pricing of the public offering of 12,000,000 6.375% Mandatory Convertible Preference Shares, Series A at $50.00 per share. In addition, the underwriters of the offering have an option to purchase up to an additional 1,800,000 shares of the Mandatory Convertible Preference Shares. The offering is expected to close on June 24, 2013. Unless converted or redeemed earlier, each Mandatory Convertible Preference Share will convert automatically on July 1, 2016, into between 1.5015 and 1.8018 of our common shares, subject to anti-dilution and other adjustments. The number of our common shares issuable on conversion will be determined based on the average VWAP of our common shares over the 20 trading day period commencing on and including the 22nd scheduled trading day prior to the mandatory conversion date. Dividends on the Mandatory Convertible Preference Shares will be payable on a cumulative basis when, as and if declared by our board of directors, at an annual rate of 6.375% on the liquidation preference of $50.00 per share. The Company intends to use the net proceeds of the offering, if completed, as partial consideration, to finance the previously announced acquisition of all of the equity interests in Longview Timber LLC. Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are the joint book-running managers on the offering.  Full Article

UPDATE 1-Weyerhaeuser profit beats on strong wood product sales

Aug 1 - Timber conglomerate Weyerhaeuser Co reported a better-than-expected quarterly profit as its strategy of focusing on wood products paid off.

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