Weyerhaeuser (WY) Announces New $500M Share Buyback Authorization

Weyerhaeuser Company (NYSE: WY) announced that its board of directors has authorized a new share repurchase program of up to $500 million of the company's common shares. This replaces the existing $2.5 billion share repurchase program authorized in November 2015. As of December 31, 2018, there was approximately $135 million remaining under the prior authorization. Repurchases under the new program may be made through a variety of methods, including open market purchases, unsolicited or solicited privately-negotiated transactions, tender offer, block trades, accelerated share repurchase transactions, or pursuant to 10b5-1 trading plans.

"Over the past three years we have returned over $5 billion of cash to shareholders through dividends and share repurchases. This includes nearly $1.4 billion in 2018," said Devin W. Stockfish, president and chief executive officer. "We remain committed to driving value for shareholders through industry-leading performance and disciplined capital allocation."

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