Rayonier Inc. (NYSE:RYN) Announces $1.40 Special Dividend

Key Points

• Rayonier Inc. announced a special dividend of $1.40 per share, which will be distributed to stockholders on December 12th for those on record by October 24th.
• The company has a payout ratio of 167.7%, indicating it currently cannot cover its dividend solely from earnings and is relying on its balance sheet for payments.
• Rayonier's stock increased by 1.8% on the announcement, reflecting optimistic investor sentiment despite the company's reliance on external funding for dividends.

Rayonier Inc. (NYSE:RYN - Get Free Report) announced a special dividend on Tuesday, October 14th, RTT News reports. Stockholders of record on Friday, October 24th will be given a dividend of 1.40 per share by the real estate investment trust on Friday, December 12th.

Rayonier has a payout ratio of 167.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Rayonier to earn $0.68 per share next year, which means the company may not be able to cover its $1.09 annual dividend with an expected future payout ratio of 160.3%.

Rayonier Stock Up 1.8%

NYSE:RYN opened at $25.90 on Tuesday. The firm's 50-day moving average price is $26.20 and its 200-day moving average price is $24.68. The company has a market capitalization of $3.99 billion, a PE ratio of 5.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.50 and a quick ratio of 3.38. Rayonier has a 1-year low of $21.84 and a 1-year high of $32.88.

Rayonier (NYSE:RYN - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. Rayonier had a net margin of 68.53% and a return on equity of 3.39%. The firm had revenue of $106.50 million for the quarter, compared to the consensus estimate of $95.30 million. During the same period in the prior year, the firm earned $0.02 EPS. The company's revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Rayonier will post 0.55 EPS for the current fiscal year.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

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