Weyerhaeuser Announces Tax Treatment of 2022 Distributions
SEATTLE, Jan. 17, 2023 /PRNewswire/ -- For shareholders of Weyerhaeuser Company (NYSE: WY), the 2022 distributions totaling $2.17 per share on the Common Stock CUSIP 96216610 traded under the symbol WY are designated for income tax purposes as follows:
The company's tax return has not been filed for the year ended December 31, 2022. The dividend income tax allocations presented herein have been calculated using the best available information to date and as a result could change upon the filing of the company's tax return.
Because a portion of the company's 2022 distributions are designated as capital gain distributions and qualified dividends, they are not eligible for the 20 percent qualified business income deduction (Section 199A deduction).
The company will make supplemental information related to the tax treatment of its 2022 distributions, including Form 8937, available on its website no later than January 30, 2023.
The company anticipates that the tax treatment of its 2023 distributions may have a non-dividend component due to the supplemental dividend that it expects to declare and pay in the first quarter 2023.
Shareholders are encouraged to consult their tax advisor to determine the specific effect these distributions may have on their individual tax situation.
(1) For purposes of section 1061 of the Internal Revenue Code, the Company is disclosing that both the One Year and Three Year amounts are $0.00/share. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in North America. Our company is a real estate investment trust. In 2021, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the company's expected 2023 distributions. These forward-looking statements are based on our current expectations and assumptions, the accuracy of which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in our 2021 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements, reports, registration statements, prospectuses, information statements and other filings with the SEC. It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342
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SOURCE Weyerhaeuser Company