Boise Cascade Company (BCC) will hike its quarterly dividend by 20 percent to 12 cents per share and also pays another special dividend, this time of $3.00 per share. Earlier in 2021 BCC already paid a special dividend of $2.00 per share, following a special dividend payment of $1.60 per share in 2020. 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. 

Both the supplemental dividend of $3.00 per share and the new quarterly dividend of $0.12 per share will be paid by BCC on December 15, 2021 to stockholders of record on December 1, 2021. The regular annual dividend of 48 cents yields 0.7% at a stock price of $69.

“We have consistently stated our intent to maintain a balanced and flexible approach to capital allocation. Today we can reward our shareholders with an increase in our quarterly dividend and our second supplemental dividend of 2021," stated Nate Jorgensen, CEO. "At the same time, we have retained ample balance sheet capacity to reinvest in our existing asset base and pursue organic or acquisition opportunities that align with our strategic growth priorities."

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.