Company Structure
Weyerhaeuser's board of directors announced in 2009 that conversion to a real estate investment trust would best position Weyerhaeuser for long-term growth and success. To complete the conversion, we issued a special, taxable dividend to stockholders of our undistributed earnings and profits in 2010.
Converting to a REIT allows us to be a more tax-efficient and competitive owner, manager and buyer of timberlands. It’s important to note this change affects income taxes only at the corporate level on our timber harvest. In addition to income taxes paid by our manufacturing and home building businesses, all our businesses, including timberlands, continue to pay property, payroll, sales and other taxes.
Our conversion to a REIT does not affect our commitment to meeting a broad range of sustainability goals.
PORTFOLIO ACTION
We continually assess the long-term performance of each of our businesses. In particular, we monitor the ability of each business to earn more than its cost of capital over a business cycle, compete effectively, and grow. We use these criteria to adjust our business portfolio, making focused and disciplined decisions.
Recent actions include:
- Sold Hardwoods business (2011)
- Sold Westwood Shipping lines (2011)
- Sold 82,000 acres of non-strategic timberlands (2011)
- Sold our railroads business (2010)
- Permanently closed three Wood Products facilities (2010)
- Exited from our joint venture of timberland management in China (2012)
Our Businesses
Last updated November 29, 2012
