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    WEF   CA9582112038

WESTERN FOREST PRODUCTS INC.

(WEF)
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Delayed Toronto Stock Exchange  -  05/24 03:07:16 pm EDT
1.790 CAD   -2.72%
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Western Forest Products Inc. : Confirms Record Date of Third Quarter 2021 Dividend

08/05/2021 | 05:33pm EDT

TSX: WEF

VANCOUVER, BC, Aug. 5, 2021 /CNW/ - 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 third fiscal quarter of 2021 to shareholders of record as at the close of business on Friday, August 27, 2021 and payable on Friday, September 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 1.1 billion board feet from eight 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.

Cision
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SOURCE Western Forest Products Inc.

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Financials
Sales 2022 1 400 M 1 096 M 1 096 M
Net income 2022 139 M 109 M 109 M
Net cash 2022 209 M 164 M 164 M
P/E ratio 2022 4,43x
Yield 2022 2,72%
Capitalization 599 M 465 M 469 M
EV / Sales 2022 0,28x
EV / Sales 2023 0,22x
Nbr of Employees 2 051
Free-Float 99,7%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1,84 CAD
Average target price 2,70 CAD
Spread / Average Target 46,7%
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Managers and Directors
Donald Eugene Demens President & Chief Executive Officer
Stephen D. A. Williams Chief Financial Officer & Executive VP
Michael T. Waites Independent Chairman
Daniel Louis Nocente Lead Independent Director
Laura A. Cillis Independent Director
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