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SLAM DRILLS MORE COPPER MINERALIZATION AT GOODWIN (click to learn more)
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West Fraser Timber Co Ltd T.WFG

Alternate Symbol(s):  WFG

Forest Products Lumber & Wood Production
West Fraser Timber Co. Ltd. is a diversified wood products company. The Company is engaged in manufacturing, selling, marketing and distributing lumber, engineered wood products, including oriented strand board (OSB), laminated veneer lumber (LVL), medium-density fiberboard (MDF), plywood, particleboard, pulp, newsprint, wood chips and other residuals and renewable energy. Its products are used in home construction, repair and remodeling, industrial applications, paper, tissues, and box materials. Its segments include Lumber, North America engineered wood products (NA EWP), Pulp & Paper and Europe EWP. Its business comprises lumber mills, OSB facilities, renewable energy facilities, pulp and paper mills, plywood facilities, MDF facilities, particleboard facilities, LVL facility, treated wood facility, and veneer facility. The Company operates approximately 58 facilities in Canada, the United States, the United Kingdom and Europe. It also offers wood preservation services.


TSX:WFG - Post by User

West Fraser Timber Co Ltd
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Post by retiredcfon Jun 13, 2024 9:15am
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Post# 36086724

RBC

RBC

June 12, 2024

West Fraser Timber Co. Ltd. Increases dividend by 6.7%

NYSE: WFG | USD 79.06 | Outperform | Price Target USD 97.00

Sentiment: Neutral

West Fraser increases its dividend by 6.7%. West Fraser increased its quarterly dividend by 6.7%, to US$0.32 per share from US $0.30 per share previously, which the company noted was partly a function of a share count reduction due to recent NCIB execution (in nominal dollar terms, total dividend payments per quarter going forward should be roughly in line with total dividend payments per quarter following the last dividend increase in June 2022). Per SEDI filings, West Fraser has bought back roughly 581k shares through April and May 2024, which represents an acceleration in repurchase activity after buying back 106k shares during Q124. The company's next dividend is payable on July 12, 2024 to shareholders of record on June 26, 2024.

High-grading the portfolio allows for a consistent capital allocation approach through the cycle. As we have previously noted, reducing its pulp exposure, closing higher-cost mills, making organic investments, acquiring high-quality assets, and maintaining a strong balance sheet has helped West Fraser have greater confidence in its ability to fund capital projects, pay its dividend, and act opportunistically through market troughs (buybacks, M&A).


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