– Establishes long-term goals to drive strategic growth by the end of 2025
– Announcement $ 0.50 additional and new interim dividend $ 1 billion share buyback authorization
– Provides details on the activities of Natural Climate Solutions, publishes a carbon footprint highlighting the net “negative carbon” impact and sets the GHG reduction target on the path to net zero
SEATTLE, September 22, 2021 / PRNewswire / – Weyerhaeuser Company (NYSE: WY) will present the company’s strategy to generate long-term, sustainable growth and superior returns for shareholders today at its 2021 Virtual Investor Day, which begins in 9:30 am Pacific Time.
“Over the past 18 months, we have enhanced Weyerhaeuser’s asset portfolio, strengthened our balance sheet and positioned the company for its next phase of sustainable growth and value creation,” said Devin W. Stockfish, President and CEO of management. “We intend to grow our business and cash flow, improve our competitive position, take full advantage of the growing demand for our products and capabilities, and unequivocally establish Weyerhaeuser as an investment opportunity. Leading ESG. These actions will improve our ability to return capital to shareholders through dividends and opportunistic share buybacks. Looking ahead, I am confident in our ability to meet our new multi-year goals and generate superior returns for our shareholders.
DRIVING STRATEGIC GROWTH
At today’s event, members of Weyerhaeuser’s leadership team will discuss the company’s goals for driving strategic growth by the end of 2025, including:
Develop the company’s woodland portfolio through $ 1 billion disciplined investments with strong returns;
Generator $ 100 million the adjusted EBITDA of Natural Climate Solutions, a five-fold increase from current levels;
Capture $ 175 250 million additional operational excellence improvements to maintain and further improve Weyerhaeuser’s peak performance; and
Timber production growing organically at 5 percent per year to meet growing market demand.
RETURN OF CASH TO SHAREHOLDERS
In view of its record cash flow generation in the first half of 2021, the company is also announcing the following actions, which demonstrate its strong commitment to return capital to shareholders:
Declare a one-off additional interim dividend of $ 0.50 per share, allowing shareholders to benefit from extraordinary market conditions and allowing the company to capitalize on a unique tax planning opportunity;
Target 5% annual growth in the sustainable base dividend from 2022 to 2025 through the growth opportunities of Timberlands and Natural Climate Solutions; and
Authorize a new $ 1 billion authorization to buy back shares.
Additional details regarding the interim supplementary dividend declaration and the share buyback authorization can be found in a separate press release issued today.
STRENGTHEN ESG LEADERSHIP
The company is taking significant steps to contribute to climate change solutions and further strengthen Weyerhaeuser’s reputation as a premier ESG investment opportunity, including:
Develop the company’s Natural Climate Solutions activity to take advantage of the opportunities associated with emerging carbon markets;
Leading its sector by aligning carbon disclosures with the forthcoming Greenhouse Gas Protocol on Carbon Removals and Land Use;
Released its first carbon footprint, revealing the company is significantly carbon negative and stores billions of metric tons of carbon dioxide equivalents in its US forests; and
Set a scientific goal of reducing greenhouse gas emissions that aligns with limiting global warming to 1.5 degrees Celsius and supports the path to net zero.
WEB BROADCAST INFORMATION
To register for the live video webcast, please visit https://wyinvestorday.connectid.cloud/register/ or the home page of www.weyerhaeuser.com. Presentation materials will be available on the Investor Relations section of www.weyerhaeuser.com, and a replay will be posted after the event.
Weyerhaeuser Company, one of the largest private owners in the world of forests, began operations in 1900. We own or control approximately 11 million acres of woodland in the United States and manage additional woodland under long-term licenses in Canada. We manage these forests on a durable in accordance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in North America. Our company is a real estate investment company. In 2020, we generated $ 7.5 billion in net sales and employed approximately 9,400 people who serve customers around the world. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more about www.weyerhaeuser.com.
FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES
This press release contains statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the strategic plans, objectives and expectations of the company, including, without limitation, with respect to the following: objectives and perspectives; business strategies; key initiatives; demand for our products; projections of the future growth, value and performance of our woodlot portfolio as well as the future growth and productivity of our wood products business; the objectives of progressive improvements in operational excellence; the future growth of our cash flow; our cash dividend framework and the future growth and sustainability of our quarterly core dividend; future share buyback plans; and our new climate solutions business and related plans, including Adjusted EBITDA projections and our greenhouse gas emissions reduction targets. Forward-looking statements may be identified by not relating strictly to historical or current facts and may be identified by reference to a future date or period or by our use of certain words in such statements, including, without limitation, words such as “expect”, “future”, “grow”, “growth”, “maintain”, “plan”, “We may refer to assumptions, goals, targets or expected performance through, or events that will occur on or at a future date, and such references may also constitute forward-looking statements. Forward-looking statements are based on our current expectations and assumptions. The achievement of our expectations and the accuracy of our assumptions are subject to a number of risks and uncertainties that are difficult to predict and often beyond the control of the Company. These and other factors could cause one or more of our expectations to be not met, one or more of our assumptions to be materially inaccurate or that actual results differ materially from those expressed or implied in our forward-looking statements or in all of the foregoing. These risks and uncertainties include, without limitation, those identified in our 2020 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements and reports, including reports, statements by registration, prospectuses. , information statements and other documents filed with the SEC.
It is not possible to predict or identify all of the risks and uncertainties that could affect the accuracy of our forward-looking statements and, therefore, our descriptions of these risks and uncertainties should not be considered exhaustive. There is no guarantee that the events anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee of the effect they will have on the business, results of ‘operations, cash flow, situation and outlook for the future. Forward-looking statements speak only as of the date they are made, and we assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Also included in this press release are references to Adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA may not be comparable to non-GAAP financial measures with the same name or with captions from other companies due to potential inconsistencies in the way these measures are calculated. Adjusted EBITDA should not be viewed in isolation and is not intended to represent an alternative to our GAAP results.
For more information, contact:
Analysts – Beth baum Where Andy taylor, 206-539-3907
Media – Nancy thompson, 919-861-0342
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Company SOURCE Weyerhaeuser