Weyerhaeuser Company stockholders who voted to receive a special dividend from the company in cash will receive about $4.03 in cash and the rest in stock, the company said this week.
The dividend is part of Federal Way-based Weyerhaeuser’s conversion to a real estate investment trust. Shareholders of record on July 22 were able to elect stock or cash for the dividend whose value was $5.6 billion. About 66 percent of company shareholders selected the stock option, the company said.
With only $560 million of the total payout available in cash, the company allocated the money available over the 138.9 million shares that elected the cash option, resulting in the $4.03 figure.
The remainder of the investors’ value will be paid in cash. Those who elected an all-stock distribution will receive no cash, the company said.
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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 Sept. 1 .