West Fraser, a diversified wood products company, has announced a quarterly dividend of US$0.32 per share on the Common shares and Class B Common shares in the capital of the Company, payable on July 12, 2024 to shareholders of record on June 26, 2024.
The quarterly dividend has been increased from the prior US$0.30 per share in light of the share count reduction resulting from execution of recent normal course issuer bids.
Sean McLaren, President and CEO of West Fraser, emphasized the significance of the decision: “A sustainable quarterly dividend is a key priority within our capital allocation strategy”.
Moreover, the dividends declared by the company are classified as eligible dividends under subsection 89(14) of the Income Tax Act (Canada) and relevant provincial legislation. They are paid in U.S. dollars, with shareholders having the option to receive their dividends in Canadian dollars.
Additional details on this election process can be accessed on West Fraser’s website under the “Investors/Stock Information/Dividends” section.
