Summary Box: Weyerhaeuser to distribute $5.6 billion in dividends as it becomes a REIT
By APMonday, July 12, 2010
Summary Box: Weyerhaeuser to pay $5.6B dividend
THE PAYOUT: Forest products giant Weyerhaeuser plans to distribute $5.6 billion to shareholders through a special dividend.
THE REASON: The payout is a required step in Weyerhaeuser’s path to becoming a real estate investment trust, a move that will lower its income tax rate.
THE DETAILS: Cash payments are limited to 10 percent of the total dividend, or $560 million. The rest will be distributed in stock. The payout will be made Sept. 1 to shareholders as of July 22.
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