Weyerhaeuser is about to make its shareholders richer. The company will distribute a new quarterly dividend of $0.20 per share of its stock on May 31 to shareholders of record as of May 10. That's an 18% increase over the previous disbursement, which was $0.17 in both of the previous two quarters. Prior to that, the firm handed out $0.15 per share.

The company attributed some of the largesse to a change in corporate structure. In the press release announcing the new payout, Chairman Chuck Williamson pointed out that, "since setting our initial dividend as a REIT, we have grown the dividend by more than 33[%]." This transformation was effected in 2011.

The new distribution annualizes to $0.80 per share. That yields 2.5% at Weyerhaeuser's current stock price of $31.71.

The article Weyerhaeuser Boosts Dividend by 18% originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Weyerhaeuser. The Motley Fool has no position in Weyerhaeuser. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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