RTTNews | Jan 28, 2022 03:32AM EST

03:32 Friday, January 28, 2022 (RTTNews.com) - Weyerhaeuser Co. (WY), a private owner of timberlands, reported Friday that its fourth-quarter net earnings grew to $416 million, or $0.55 per share from $292 million, or $0.39 per share last year.

Adjusted net earnings were $367 million, or $0.49 per share, compared to $361 million or $0.48 per share in the same period last year.

Net sales grew to $2.21 billion from $2.06 billion a year ago.

On average, analysts polled by Thomson Reuters expected earnings of $0.48 per share for the quarter on net sales of $2.17 billion. Analysts' estimates typically exclude special items.

Further, the company declared a $1.45 per share supplemental dividend.

On a combined basis, including dividends and share repurchase, the company said it is returning more than $2 billion of cash, or 79 percent of 2021 Adjusted FAD, to shareholders based on 2021 results.

Devin Stockfish, president and chief executive officer, said, "As we enter 2022, we continue to be encouraged by strong demand fundamentals that will drive growth for our businesses."

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