Rayonier Inc., a renowned timberland real estate investment trust, has recently announced the declaration of a special dividend amounting to 20 cents per share on its common stock. The decision comes as a response to increased REIT taxable income resulting from the successful sale of 55,000 acres of timberland in Oregon. With the special dividend set to be payable on January 12, 2024, to shareholders of record on December 29, Rayonier aims to provide its investors with a significant return on their investment. Commenting on the dividend announcement, Chief Executive Officer David Nunes emphasized the importance of addressing the increased taxable income derived from the recent timberland sale. By leveraging their expertise to maximize returns on the timberland sale, Rayonier showcases its ability to navigate the complex real estate landscape.

Source: Wall Street Journal December 18, 2023 23:20 UTC