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    WEF   CA9582112038

WESTERN FOREST PRODUCTS INC.

(WEF)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-07-06 pm EDT
1.440 CAD   +2.86%
07/06Western Forest Products Continues to Demonstrate its Commitment to Value-added Manufacturing with $29 Million Investment Towards B.C. Operations
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06/30Western Forest Products Inc. Announces Release Date of Second Quarter 2022 Results and Conference Call Details
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06/02WESTERN FOREST PRODUCTS : Investor Presentation – May 2022
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Western Forest Products Inc. Increases Dividend

05/04/2022 | 08:29pm EDT

                                                                                                           TSX: WEF

VANCOUVER, BC, May 4, 2022 /CNW/ - Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") announced today that its Board of Directors has approved an increase of 25% in the quarterly dividend. Western confirms that a quarterly dividend of $0.0125 per share will be paid with respect to the Company's second fiscal quarter of 2022 to shareholders of record as at the close of business on Friday, May 27, 2022 and payable on Friday, June 17, 2022.

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 2021 Annual Report dated February 16, 2022.

Cision
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SOURCE Western Forest Products Inc.

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Financials
Sales 2022 1 316 M 1 007 M 1 007 M
Net income 2022 - - -
Net cash 2022 224 M 171 M 171 M
P/E ratio 2022 3,47x
Yield 2022 3,47%
Capitalization 468 M 359 M 359 M
EV / Sales 2022 0,19x
EV / Sales 2023 0,11x
Nbr of Employees 2 051
Free-Float 99,7%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1,44 CAD
Average target price 2,55 CAD
Spread / Average Target 77,1%
EPS Revisions
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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