West Fraser has declared a quarterly dividend of US$0.30 per share on the Common shares and Class B Common shares in the capital of the Company, payable on July 8, 2022 to shareholders of record on June 22, 2022.
The quarterly dividend has been increased from the prior US$0.25 per share in order to distribute a substantially similar amount of capital to investors through the dividend in light of the share count reduction resulting from execution of the current normal course issuer bid as well as completion of the recent substantial issuer bid.
Dividends are designated to be eligible dividends pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends.
Ray Ferris, president & CEO, said: “Providing a sustainable quarterly dividend remains a key priority within West Fraser’s capital allocation strategy, and we are pleased to increase our dividend this quarter and to have completed the recent actions we’ve taken to return capital to our shareholders.”
>>Read more about West Fraser here.
