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Weyerhauser raises dividend to 20 cents

FEDERAL WAY, Wash. (AP) -- Weyerhauser Co. said Thursday it is raising its quarterly dividend by 18 percent to 20 cents from 17 cents.

Weyerhauser is one of the world's largest lumber companies. Its next dividend is payable May 31 to shareholders of record May 10.

The company said it is increasing its dividend because its operating results have improved and the market is strong.

Shares of Weyerhauser added 2 cents to $31.73 in after-hours trading, after gaining 8 cents during the regular session, to $31.71.