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    WEF   CA9582112038

WESTERN FOREST PRODUCTS INC.

(WEF)
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Q4 2021 Dividend Date Confirmation

11/03/2021 | 05:03pm EST

FOR IMMEDIATE RELEASE

TSX: WEF

Western Forest Products Inc. Confirms

Record Date of Fourth Quarter 2021 Dividend

November 3, 2021 - Vancouver, British Columbia - Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") is pleased to confirm that a quarterly dividend of $0.01 per share will be paid with respect to the Company's fourth fiscal quarter of 2021 to shareholders of record as at the close of business on Friday, November 26, 2021 and payable on Friday, December 17, 2021.

The dividend will return a portion of the Company's 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 forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.0 billion board feet from seven sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

Forward-looking Statements

This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. All statements herein, other than statements of historical fact, may be forward- looking statements and can be identified by the use of words such as "will" and similar references to future periods. Forward-looking statements in this press release include, but are not limited to, statements relating to the fact that all conditions for the payment of the dividend will be met and that such dividend will continue to be an "eligible dividend", as defined in the Income Tax Act (Canada). Although such statements reflect management's current reasonable beliefs, expectations and assumptions, there can be no assurance that forward-looking statements are accurate, and actual results or performance may materially vary. Many factors could cause our actual results or performance to be materially different, including a change in the Company's financial situation and other factors referenced under the "Risks and Uncertainties" section of our MD&A in our 2020 Annual Report dated February 18, 2021.

For further information, please contact:

Stephen Williams

Executive Vice President & Chief Financial Officer (604) 648-4500

Disclaimer

Western Forest Products Inc. published this content on 03 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2021 22:01:03 UTC.


ę Publicnow 2021
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Financials
Sales 2021 1 411 M 1 120 M 1 120 M
Net income 2021 194 M 154 M 154 M
Net cash 2021 119 M 94,9 M 94,9 M
P/E ratio 2021 3,62x
Yield 2021 1,99%
Capitalization 661 M 527 M 525 M
EV / Sales 2021 0,38x
EV / Sales 2022 0,34x
Nbr of Employees 2 153
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Technical analysis trends WESTERN FOREST PRODUCTS INC.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 2,01 CAD
Average target price 2,63 CAD
Spread / Average Target 30,8%
EPS Revisions
Managers and Directors
Donald Eugene Demens President, Chief Executive Officer & Director
Stephen D. A. Williams Chief Financial Officer & Executive VP
Michael T. Waites Independent Chairman
Daniel Louis Nocente Lead Independent Director
Jane M. Bird Independent Director
Sector and Competitors