The Financial Post reports in its Thursday edition that West Fraser Timber is raising its quarterly dividend by 20 per cent. A Canadian Press dispatch to the Post says that the Vancouver-based company says it will now pay a quarterly dividend of 30 U.S. cents per share starting with its July 8 payment to shareholders of record on June 22. West Fraser had paid a quarterly dividend of 25 U.S. cents per share. The company says the increased payment to shareholders follows its recent share buyback plan that reduced its number of shares outstanding. West Fraser produces lumber, engineered wood products, pulp, newsprint, wood chips, other residuals and renewable energy. It has more than 60 mills in Canada, the United States, the United Kingdom and Europe. West Fraser shares closed down 68 Canadian cents at $114.72 (Canadian) on Wednesday in Toronto.
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