This distribution is based on the average closing price for Weyerhaeuser common stock on Aug. 24, 25, and 26 of $15.54.
The special dividend is payable to shareholders of record as of July 22 in connection with the company's previously announced intent to convert to a real estate investment trust (REIT).
After paying the dividend, the company will have approximately 536 million common shares outstanding.
Weyerhaeuser expects to pay the special dividend on Sept. 1.
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.