4 unchanged sentences
Shares of the Company have no par value.
−Removed: Common stock cash dividends during the years ended December 31, 2022, 2021 and 2020 aggregated to $1.125, $1.08 and $1.08, respectively.
+Added: Common share cash dividends during the years ended December 31, 2023, 2022 and 2021 aggregated to $1.34, $1.125 and $1.08, respectively.
+Added: The year ended December 31, 2023 includes an additional cash dividend of $0.20 per common share, which was payable January 12, 2024 to shareholders of record on December 29, 2023.
Including institutional holders, there were approximately 4,371 shareholders of record of our common shares on February 16, 2024.
−Removed: UNREGISTERED SALES OF EQUITY SECURITIES
−Removed: From time to time, the Company may issue shares of common stock in exchange for units in the Operating Partnership.
+Added: REGISTERED SALES OF EQUITY SECURITIES
+Added: From time to time, the Company may issue common shares in exchange for units in the Operating Partnership.
Such shares are issued based on an exchange ratio of one common share for each unit in the Operating Partnership.
During the quarter ended December 31, 2023, the Company issued 9,371 common shares in exchange for an equal number of units in the Operating Partnership pursuant to the Operating Partnership agreement.
−Removed: ISSUER REPURCHASES
−Removed: In February 2016, the Board of Directors approved the repurchase of up to $100 million of Rayonier’s common shares (the “share repurchase program”) to be made at management’s and the Board of Directors’ discretion.
+Added: ISSUER REPURCHASES OF EQUITY SECURITIES
+Added: In February 2016, the Board of Directors approved the repurchase of up to $100 million of Rayonier’s common shares (the “share repurchase program”) to be made at management’s discretion.
The program has no time limit and may be suspended or discontinued at any time.
2 unchanged sentences
The following table provides information regarding our purchases of Rayonier common shares during the quarter ended December 31, 2023:
−Removed: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (a) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (b)
+Added: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (a) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (c)
October 1 to October 31 — — — 3,475,770
11 unchanged sentences
There were no unregistered sales of equity securities made by the Operating Partnership during the quarter ended December 31, 2023.
−Removed: ISSUER PURCHASES OF EQUITY SECURITIES
+Added: ISSUER REPURCHASES OF EQUITY SECURITIES
Pursuant to the Operating Partnership’s limited partnership agreement, limited partners have the right to redeem their Operating Partnership units for cash, or at our election, shares of Rayonier Common Stock on a one-for-one basis.
−Removed: During the quarter ended December 31, 2022, 2,500 Operating Partnership units held by limited partners were redeemed in exchange for shares of Rayonier Common Stock.
+Added: During the quarter ended December 31, 2023, 9,371 Operating Partnership units held by limited partners were redeemed in exchange for shares of Rayonier Common Shares.
STOCK PERFORMANCE GRAPH
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.