|By Marketwired .||
|February 16, 2017 07:26 PM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/16/17 -- Western Forest Products Inc. (TSX:WEF) ("Western" or the "Company") is pleased to confirm that a quarterly dividend of $0.02 per share will be paid with respect to the Company's first fiscal quarter of 2017 to shareholders of record as at the close of business on Wednesday, March 1, 2017 and will be distributed on or about Friday, March 17, 2017.
The dividend will return a portion of the Company's net cash to shareholders, after taking into consideration the Company's liquidity and ongoing capital needs. The Board of Directors will review the amount of the dividend on a quarterly basis. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes.
About Western Forest Products Inc.
Western is an integrated Canadian forest products company and is the largest coastal British Columbia woodland operator and lumber producer. The Company has an annual available harvest of approximately 6.1 million cubic metres of timber, of which approximately 5.9 million cubic metres is from Crown lands. Western has a lumber capacity in excess of 1.1 billion board feet from seven sawmills and one remanufacturing plant. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and wood chips, and value-added remanufacturing. Substantially all of Western's operations, employees and corporate facilities are located in the coastal region of British Columbia, with sales worldwide.
Western Forest Products Inc.
Senior Vice President & Chief Financial Officer
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