Weyerhaeuser Provides 2024 Dividend Tax Treatment Details for Shareholders
Weyerhaeuser Company's 2024 Dividend Distributions: Tax Treatment Explained
Weyerhaeuser Company (NYSE: WY) recently released crucial information regarding the tax treatment of its 2024 dividend distributions aimed at its shareholders. For those holding shares of the timber giant, understanding the implications of these distributions on personal tax situations is important as we move into the new tax season.
Overview of Dividend Distributions
The total dividend for 2024 is set at $0.94 per share, based on the company’s Common Stock CUSIP 96216610. The distributions are categorized by cash payments, capital gains distributions, and their tax implications. Here are key dates and amounts to note:
| Record Date | Payable Date | Cash Distribution per Share | Capital Gain Distribution | Qualified Dividend | Nondividend Distribution |
|---|---|---|---|---|---|
| ---- | ---- | ------- | ------ | --- | -------- |
| 02/16/2024 | 02/27/2024 | $0.140 | $0.140 | $0.000 | $0.000 |
| 03/08/2024 | 03/22/2024 | $0.200 | $0.200 | $0.000 | $0.000 |
| 05/31/2024 | 06/14/2024 | $0.200 | $0.200 | $0.000 | $0.000 |
| 08/30/2024 | 09/13/2024 | $0.200 | $0.200 | $0.000 | $0.000 |
| 11/29/2024 | 12/13/2024 | $0.200 | $0.200 | $0.000 | $0.000 |
Total Distribution: $0.940
Tax Reporting Considerations
As part of the 2024 tax reporting, Weyerhaeuser has noted that the distributions are primarily classified as capital gain distributions. This classification is significant because it affects how shareholders can deduce corporate income under section 199A of the Internal Revenue Code, which states that such dividends are ineligible for the 20 percent qualified business income deduction. Furthermore, the company's tax return for the year ended December 31, 2024, has yet to be filed, meaning that these preliminary allocations may be subject to change pending that outcome.
Shareholders are advised to consult their tax advisors regarding these distributions as they may have individualized tax implications. It is advisable to carefully evaluate how these distributions might affect one’s overall tax position.
About Weyerhaeuser Company
Founded in 1900, Weyerhaeuser Company is a prominent player in global forestry and timber production, currently owning or controlling about 10.5 million acres of timberlands in the United States, along with 14 million acres in Canada managed under long-term licenses. The company remains committed to sustainable practices, managing its timberlands in compliance with recognized forestry standards. In 2023, Weyerhaeuser reported impressive net sales of $7.7 billion and is consistently recognized as one of the largest manufacturers of wood products in North America.
As a real estate investment trust, Weyerhaeuser’s common stock is traded on the New York Stock Exchange under the symbol WY. For those interested in learning more about the company’s operations or sustainability initiatives, additional information is accessible on their official website www.weyerhaeuser.com.
Conclusion
In conclusion, Weyerhaeuser's announcement surrounding the 2024 dividend tax treatment is essential for shareholders to comprehend as they navigate their tax obligations. By providing this information upfront, Weyerhaeuser exemplifies its commitment to shareholder transparency and responsible corporate governance.
Topics Financial Services & Investing）
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