WeyerhaeuserNYSE: WY

LITTLE ROCK, Ark., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Weyerhaeuser Company, a major private timberland owner globally, has revealed plans for a new TimberStrand® facility near Monticello and Warren, Arkansas, with an estimated investment of $500 million.

Weyerhaeuser Company has revealed plans to invest around $500 million in a new TimberStrand® facility in Arkansas. This modern facility, located near Monticello and Warren, will increase the company's production capacity for engineered wood products in the southern U.S. It is expected to produce about 10 million cubic feet each year, similar to their current facility in Kenora, Ontario.

Hossain will take over from Russell Hagen, who is set to retire at the end of 2024. Weyerhaeuser Company announced on November 11, 2024, that Paul Hossain will become the senior vice president and chief development officer starting January 1, 2025. He will be responsible for the company's Real Estate, Energy & Natural Resources segment, which includes the Natural Climate Solutions business, along with Business Development and Acquisitions and Divestitures.

On November 8, 2024, Weyerhaeuser Company announced that its board has approved a quarterly cash dividend of $0.20 per share for its common stock. This dividend will be paid on December 13, 2024, to shareholders who are on record as of November 29, 2024. The company also plans to provide additional cash returns to shareholders, aiming for a total return of 75 to 80 percent of its annual Adjusted Funds Available for Distribution.

Lumber prices reflect the state of the economy and the demand for new homes, but lumber futures can be unstable, causing significant price changes during market rises or falls. Weyerhaeuser Company provides a more stable investment linked to lumber prices, doing better in tough times and not as well when the market is strong. If short-term interest rates decrease, it might lead to lower long-term rates, which could encourage new home building and raise the demand for lumber, benefiting Weyerhaeuser's stock.

Weyerhaeuser Company (NYSE:WY) will hold its Q3 2024 Earnings Conference Call on October 25, 2024, at 10:00 AM ET. The call will feature company representatives, including Andy Taylor, the Vice President of Investor Relations, and Devin W. Stockfish, the President and CEO.

WY's results for the third quarter of 2024 show a drop in fee harvest volumes and domestic sales. Additionally, there are high costs for lumber manufacturing and raw materials.

The main figures for Weyerhaeuser (WY) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare these important metrics with Wall Street predictions and the results from the same period last year.

SEATTLE, Oct. 24, 2024 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) has announced its financial results for the third quarter of 2024. You can find the earnings release and related documents in the Investors section of their website, www.weyerhaeuser.com.