FEDERAL WAY, Wash. -- Lumber and real estate company Weyerhaeuser Co. boosted its dividend on Thursday and said the housing market appears to be improving.
The company will pay a dividend of 17 cents per share on Nov. 30 to shareholders of record Nov. 9. That's up 13 percent from its previous payout of 15 cents per share.
Chairman Chuck Williamson said the increase is consistent with the board's goal of "providing an attractive dividend, one that is sustainable and will grow over time."
President and CEO Dan Fulton said the company is still cautious about the speed of the recovery in the U.S. and global economies, but "recent trends give us greater confidence that housing fundamentals are improving."