VANCOUVER, British Columbia, Nov. 3, 2022 (GLOBE NEWSWIRE) — Western Forest Products Inc. WEF (“Western” or the “Company”) is pleased to confirm that a quarterly dividend related to the Company’s fourth fiscal quarter of 2022 of $0.0125 per share was paid to shareholders of record at the close of business on Friday, March 25, 2022. November, 2022 and payable on Friday 16 December 2022.

The dividend will return a portion of the company’s cash to shareholders after considering the company’s liquidity and ongoing capital needs. The Board of Directors will review the amount of the dividend on a quarterly basis. This dividend is considered an “eligible dividend” for Canadian income tax purposes.

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-driven log and lumber business to successfully compete in the global softwood markets. With operations and employees located primarily along the coast of British Columbia and Washington state, Western is a leading provider of high-quality specialty forest products to global markets. Western has over 1.0 billion board feet of lumber capacity from seven sawmills and operates four remanufacturing plants and two glulam manufacturing plants. The company sources timber from its private properties, long-term licenses, agreements with indigenous peoples and market purchases. Western complements its manufacturing with a wholesale program that offers customers a full line of specialty products.

Forward-Looking Statements

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