Rayonier declares $1.40 special dividend tied to New Zealand sale

Rayonier Inc. (NYSE: RYN) announced its board of directors declared a special dividend of $1.40 per common share, payable December 12, 2025, to shareholders of record on October 24, 2025.

The dividend consists of a combination of cash and common shares, with the cash component limited to 25% of the total distribution. The remaining 75% will be paid in Rayonier common shares. The company stated the dividend relates to taxable gains from the sale of its New Zealand joint venture interests for $710 million, which closed June 30, 2025.

Shareholders can elect to receive the dividend entirely in cash or entirely in common shares. If aggregate cash elections exceed 25%, the cash portion will be prorated among shareholders choosing cash. Those electing cash will receive at least $0.35 per common share. Shareholders not making an election will receive 25% in cash and 75% in common shares.

The number of common shares issued will be calculated using volume weighted average trading prices on the New York Stock Exchange for December 1, 2, and 3, 2025. The ex-dividend date is October 23, 2025.

Rayonier expects the dividend will be taxable to shareholders regardless of whether received as cash or common shares. The company reported the dividend represents a 5.4% annual yield.

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