PotlatchDeltic Announces Payment of Special Dividend
SPOKANE, Wash., Nov. 15, 2018 (GLOBE NEWSWIRE) -- PotlatchDeltic Corporation (NASDAQ: PCH) today announced payment of the previously announced $222 million special dividend. The dividend consisted of approximately 4.8 million shares of common stock and $44.4 million in cash.
The special dividend is payable to shareholders of record as of September 27 in connection with the distribution of the accumulated earnings and profits of Deltic Timber Corporation as of February 20, 2018, the date Deltic merged into a wholly-owned subsidiary of the company. Based on the shares outstanding on September 27, the dividend value per share is $3.53809258. The shareholders who elected to receive the special dividend in cash will receive $1.04629213 per share in cash and $2.49180045 per share in stock. Those receiving the dividend in stock will receive $3.53809258 per share in stock.
After paying the dividend, the company will have approximately 67.6 million common shares outstanding.
PotlatchDeltic Corporation (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland land sales program. PotlatchDeltic, a leader in sustainable forest practices, is dedicated to long-term stewardship and sustainable management of its timber resources. More information can be found at www.potlatchdeltic.com.