Weyerhaeuser (WY) said Thursday it expects $1.5 billion of additional adjusted earnings before interest, taxes, depreciation and amortization by 2030, including $1 billion from specific growth initiatives.

The remaining $500 million of uplift reflects a "modest" improvement in product pricing, the company said.

Growth initiatives include $440 million from wood products, $230 million from strategic land solutions, $180 million from enterprise initiatives, and $150 million from timberlands.

The company also said it is committed to return 75% to 80% of its adjusted funds available for distribution to shareholders per year through a base dividend, as well as share repurchases and/or supplemental dividend.