Weyerhaeuser suspends dividend in 2020 because of COVID-19 Dividendhike.com | Dividend News and Statistics for US Equities

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Business	yield	Hike yrs	5 yr CAGR	freq.	paid since
Weyerhaeuser As of October 10, 2023	ticker	dps (an.)	2024 hike	2023 hike	2022 hike
Weyerhaeuser As of October 10, 2023	WY	$0.76	5.6%	5.9%	N/A
Timber REIT	2.5%	2	-11.0%	Quarter	2020

Weyerhaeuser suspends dividend

Friday 1 May 2020

Weyerhaeuser (WY) will suspend its quarterly dividend in 2020 because of COVID-19. In 2018 the REIT raised its quarterly dividend by 6.3 percent to $0.34 per share. Weyerhaeuser had raised its dividend nine consecutive years before this suspension.

In its press release reporting first quarter results the company also details additional actions in response to COVID-19 pandemic, including the temporary suspension of quarterly dividends to preserve liquidity and financial flexibility.

Weyerhaeuser is a real estate investment trust. The company is one of the world's largest private owners of timberlands. WY owns or controlsl millions of acres of timberlands in the U.S., and manages additional timberlands under long-term licenses in Canada. The company manages these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products.

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