WILDLIGHT, Fla.--(BUSINESS WIRE)--Rayonier Inc. (NYSE:RYN) announced today that the Company’s board of directors has declared a first quarter cash dividend of $0.27 per common share. The dividend is payable on March 31, 2021, to shareholders of record on March 17, 2021.
The Company also announced today, that the Company’s board of directors, in its capacity as the board of directors of the general partner of Rayonier, L.P., has declared a first quarter cash distribution of $0.27 per operating partnership unit. The cash distribution is payable on March 31, 2021 to holders of record on March 17, 2021.
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, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.73 million acres), U.S. Pacific Northwest (507,000 acres) and New Zealand (417,000 acres). The Company also acts as the managing member in a private equity timber fund business with three funds comprising approximately 141,000 acres. On a “look-through basis”, the Company’s ownership in the timber fund business equates to approximately 17,000 acres. More information is available at www.rayonier.com.