West Fraser Raises Quarterly Dividend to 32 Cents per Share

Dow Jones06-13

By Stephen Nakrosis

West Fraser Timber Co.'s board approved an increase to the regular quarterly dividend, to 32 cents per share from 30 cents, on its common shares and Class B common shares.

The new dividend will be payable July 12 to shareholders of record on June 26, the company said Wednesday.

The dividend was raised given a share count reduction resulting from execution of recent normal course issuer bids, according to West Fraser.

The new dividend, $1.28 on an annual basis, represents a dividend yield of about 1.6%, based on Wednesday's closing share price of $79.06 on the New York Stock Exchange.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 12, 2024 17:31 ET (21:31 GMT)

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