National

West Fraser Timber raising quarterly dividend

Darpan News Desk The Canadian Press, 08 Jun, 2022 09:39 AM

VANCOUVER - West Fraser Timber Co. Ltd. is raising its quarterly dividend by 20 per cent.

The company says it will now pay a quarterly dividend of 30 cents US per share starting with its July 8 payment to shareholders of record on June 22.

West Fraser had paid a quarterly dividend of 25 cents US per share.

The company says the increased payment to shareholders follows its recent share buyback plan that reduced its number of shares outstanding.

West Fraser produces lumber, engineered wood products, pulp, newsprint, wood chips, other residuals and renewable energy.

It has more than 60 facilities in Canada, the United States, the United Kingdom and Europe.

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