Weyerhaeuser Votes To Become A REIT

As has been reported for weeks, Weyerhaeuser Co. in December voted to become the a REIT. Dan Fulton, president and chief executive officer said, "“Our company will be enhanced by the REIT structure,” This conversion will position us to be more competitive in our timberlands business. In addition, we are able to convert with our existing business mix of Timberlands, Wood Products, Cellulose Fibers and Real Estate.”

No date has been set for the conversion to a REIT but it should be sometime in 2010 and will be based on economic conditions, any changes in tax policy and timing of the distribution of earnings and profits required under tax laws.

By the end of the year of conversion, Weyerhaeuser must issue a special, taxable dividend to stockholders of its undistributed earnings and profits. As of the beginning of 2010, Weyerhaeuser reports expected earnings and profits to total just under $6 billion.They said the dividend payment will be paid with company stock.

Weyerhaeuser Real Estate Division has three divisions including Weyerhaeuser Real Estate Company. WRECO is one of the largest homebuilders in the country.The division is an umbrella organization for six branded homebuilders. Another division is WREDCO- Weyerhaeuser Real Estate Development Company which sells timberland property in select markets across the US. They also have a division that sells non-timberland industrial surplus property.

For more information on their real estate divisions please visit www.weyerhaeuser.com/business/realestate

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