Weyerhaeuser Announces Results of Special Dividend Election

25.08.2010  |  Business Wire

Weyerhaeuser Company (NYSE: WY) today announced the preliminary results
of the shareholder election relating to a special dividend payable in
connection with the company's previously announced intent to convert to
a real estate investment trust (REIT).

Shareholders of record at the close of business on July 22 were able to
elect stock or cash for the special dividend of $5.6 billion, with the
total cash distribution limited to 10 percent, or $560 million. The
election period closed at 5 p.m. Eastern on Aug. 23.

Approximately 138.9 million shares, or 66 percent of Weyerhaeuser shares
outstanding on the record date, elected to receive the special dividend
in the form of cash. Based on the election results, shareholders who
elected cash will receive approximately $4.03 per share, or 15 percent
of their special dividend, in cash and the remaining amount in stock.

The remaining shares, approximately 72.7 million or 34 percent, will
receive the special dividend entirely in stock.

The average closing price on Aug. 24, 25 and 26 will determine the
number of shares each shareholder will receive.

Weyerhaeuser expects to pay the Special Dividend on September 1, 2010.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world′s largest forest products
companies, began operations in 1900. We grow and harvest trees, build
homes and make a range of forest products essential to everyday lives.
We manage our timberland on a sustainable basis in compliance with
internationally recognized forestry standards. At the end of 2009, we
employed approximately 14,900 employees in 10 countries. We have
customers worldwide and generated $5.5 billion in sales in 2009. Our
stock trades on the New York Stock exchange under the symbol WY.
Additional information about us is available at http://www.weyerhaeuser.com.