Rayonier announces $1.80 per share special dividend

Rayonier (RYN) “announced that the Company’s board of directors has declared a one-time, special dividend of $1.80 per common share, consisting of a combination of cash and the Company’s common shares. The dividend is payable on January 30, 2025 to shareholders of record on December 12, 2024. The special dividend is being made in connection with the taxable gains arising from the $495 million of timberland dispositions the Company completed during the fourth quarter as part of its previously announced asset disposition and capital structure realignment plan. The cash component of the special dividend (other than cash paid in lieu of fractional shares) will not exceed 25% in the aggregate, with the balance payable in the Company’s common shares. The Company expects the dividend will be a taxable dividend, regardless of whether received in the form of cash or common shares.”