Boise Cascade Company (BCC) will pay a special dividend of $2.00 per share in 2021. This follows a special dividend payment of $1.60 per share last year. In 2019 the wood products company announced an increase of 11.1 percent in the quarterly dividend together with a supplemental dividend of $1.00 per share. The regular quarterly dividend is 10 cents per share.
The supplemental dividend of $2.00 per share will be paid on July 20, 2021 to stockholders of record on July 15, 2021. The regular annual dividend of 40 cents yields 0.7% at a stock price of $57.46.
“We have taken a consistent and balanced approach to capital allocation, and we are able to return cash to our shareholders with a supplemental dividend,” commented Nate Jorgensen, CEO. “At the same time, we have retained ample balance sheet flexibility to invest in our existing asset base and pursue organic and acquisition growth opportunities.”
Boise Cascade announced a double digit dividend hike in both 2018 and 2019 and currently pays an estimated annual dividend of $16 million to its shareholders based on the $0.10 per share regular quarterly dividend.
Boise Cascade Company is a producer of engineered wood products and plywood in North America and a U.S. wholesale distributor of building products.The company’s line of products is used primarily in new residential construction, residential repair-and-remodeling projects, light commercial construction, and industrial applications. Boise Cascade customers include retail lumberyards, home improvement centers, leading wholesalers, specialty distributors, and industrial converters. The company was founded in 1957 and has been paying a quarterly dividend to shareholders since 2017.