West Fraser Timber doubles its dividend and starts spending

West Fraser Timber announced today that it was doubling its quarterly dividend to six cents a share today. The company has also initiated a $125 million capital spending program.

"As a result of our strong balance sheet we are able to begin making significant capital improvements to our facilities to keep them at the forefront of technology and efficiency," said West Fraser Timber's CEO Hank Ketcham.

The spending will be focused on expanding and upgrading the company's solid wood operations in Alberta, the U.S., and in the interior of British Columbia.

Source:

West Fraser doubles dividend (The Vancouver Sun)