West Fraser Timber Co. said on June 7, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of June 20, 2023 to qualify for the dividend. Shareholders of record as of June 21, 2023 will receive the payment on July 7, 2023.
At the current share price of $75.56 / share, the stock's dividend yield is 1.59%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.18%, the lowest has been 1.20%, and the highest has been 7.70%. The standard deviation of yields is 0.97 (n=237).
The current dividend yield is 0.62 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 398 funds or institutions reporting positions in West Fraser Timber Co.. This is a decrease of 12 owner(s) or 2.93% in the last quarter. Average portfolio weight of all funds dedicated to WFG is 0.21%, a decrease of 16.28%. Total shares owned by institutions decreased in the last three months by 0.94% to 32,272K shares. 
The put/call ratio of WFG is 1.67, indicating a bearish outlook.
Analyst Price Forecast Suggests 1.46% Upside
As of June 2, 2023, the average one-year price target for West Fraser Timber Co. is 76.66. The forecasts range from a low of 69.58 to a high of $84.19. The average price target represents an increase of 1.46% from its latest reported closing price of 75.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for West Fraser Timber Co. is 7,504MM. The projected annual non-GAAP EPS is 6.54.
What are Other Shareholders Doing?
Pictet Asset Management holds 3,719K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 3,769K shares, representing a decrease of 1.37%. The firm decreased its portfolio allocation in WFG by 53.92% over the last quarter.
Royal Bank Of Canada holds 1,947K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 2,013K shares, representing a decrease of 3.39%. The firm decreased its portfolio allocation in WFG by 89.77% over the last quarter.
Bank Of Montreal holds 1,775K shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 1,853K shares, representing a decrease of 4.42%. The firm decreased its portfolio allocation in WFG by 2.55% over the last quarter.
Letko, Brosseau & Associates holds 1,122K shares representing 1.34% ownership of the company. In it's prior filing, the firm reported owning 1,128K shares, representing a decrease of 0.59%. The firm increased its portfolio allocation in WFG by 1.82% over the last quarter.
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 1,038K shares representing 1.24% ownership of the company. In it's prior filing, the firm reported owning 1,078K shares, representing a decrease of 3.88%. The firm decreased its portfolio allocation in WFG by 5.02% over the last quarter.
West Fraser Timber Co. Background Information
(This description is provided by the company.)
West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. West Fraser's products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
