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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 22, 2016) - 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 2016 to shareholders of record as at the close of business on Wednesday, March 2, 2016 and will be distributed on or about Friday, March 18, 2016.
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 6.4 million cubic metres of timber, of which approximately 6.2 million cubic metres is from Crown lands. Western has a lumber capacity in excess of 1.1 billion board feet from seven sawmills and two remanufacturing plants. 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, while its products are sold in over 25 countries worldwide.
Western Forest Products Inc.
Senior Vice President, Chief Financial
Officer & Corporate Secretary