Why it’s on the map
about 10.4M acres US timberland; lumber, OSB, EWP. Canadian softwood carries about 45% all-in duty today (35.16% AD/CVD + 10% Section 232). CEO: Canadian mill capacity has 'permanently exited'.
Government money & contracts
None.
Customers & commercial
Homebuilders/distribution.
Catalysts
Q2 lumber realizations +15% q/q; $1.5B EBITDA growth plan to 2030.
Risk
Lumber futures -10.8% m/m near 5-month low; AR7 final (Oct) LOWERS the Canadian duty wedge to about 35%; housing stuck.
Tariff durability
AD/CVD + 232 (durable) — but demand-constrained.
Dividend · #7 of 47 payers by yield
4.13% yield
$0.84 a share a year · quarterly · pays Mar · Jun · Sept · Dec
Per payment$0.21a share, 4× a year
Next payoutexpected Decnot yet declared
Last ex-dateSept 4, 2026own it before the ex-date to collect
Last paidSept 18, 2026$0.21 a share
Payout ratio133%of earnings · paying out more than it earns
Raised—streak not on record
Payout ratio above 100%: the dividend is bigger than trailing earnings, which is how cuts start.
Shares at the Oct 30 close of $20.3549.14
Each payment$10.32
Per year · 4 payments$41.28
Recent payments
| Ex-date | Paid | Per share | |
|---|---|---|---|
| Sept 4, 2026 | Sept 18, 2026 | $0.21 | |
| Jun 5, 2026 | Jun 22, 2026 | $0.21 | |
| Mar 10, 2026 | Mar 20, 2026 | $0.21 | |
| Nov 28, 2025 | Dec 12, 2025 | $0.21 |
Yield = $0.21 × 4 ÷ the Oct 30 close of $20.35. A dividend is a board decision, not a promise — it can be raised, cut or suspended any quarter. Dividend history source