Weyerhaeuser sets post-REIT dividend

Article Excerpt

WEYERHAEUSER CO. $18 (New York symbol WY; Conservative Growth Portfolio, Resources sector; Shares outstanding: 535.9 million; Market cap: $9.6 billion; Price-to-sales ratio: 1.7; Dividend yield: 3.3%; TSINetwork Rating: Extra Risk; www.weyerhaeuser.com) will convert to a real estate investment trust in 2011. That will lower the tax it must pay on its six million acres of timberland. Following the conversion, Weyerhaeuser will pay a quarterly dividend of $0.15 a share, for a 3.3% annual yield. However, weak demand for new houses will continue to hurt lumber sales. Weyerhaeuser is a hold. hold…