Weyerhaeuser announces dividend

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.

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 .