Weyerhaeuser announced today that its board of directors declared a third quarter dividend of $0.22 per share, or $0.88 annualized, on the common stock of the company.

The dividend is payable in cash on Nov. 27 to holders of record at the close of business on Nov. 1. It comes at the same rate the company paid last quarter, after raising the investor payout 10 percent from $0.20 a share.

The announcement confirms a continued upward trend of Weyerhaeuser’s quarterly dividends. The company has seen its dividend rise or hold steady every quarter since the middle of 2009, when it fell from $0.25 to $0.05 between the second and third quarters.

Additionally, the board declared a dividend of $0.7969 per share on the company's Series A 6.375 percent Mandatory Convertible Preference Shares. That will be payable in cash on New Year’s Day to holders of record at the close of business on Dec. 15.