Potlatch Corp. (PCH) Raises Quarterly Dividend 7.1% to $0.375; 3.6% Yield
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Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 3.8%
Revenue Growth %: -10.9%
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Potlatch Corp. (NASDAQ: PCH) declared a quarterly dividend of $0.375 per share, or $1.5 annualized. This is a 7.1% increase from the prior dividend of $0.35.
The dividend will be payable on December 31, 2014, to stockholders of record on December 16, 2014, with an ex-dividend date of December 12, 2014.
The annual yield on the dividend is 3.6 percent.
The company also announced that it has closed the previously announced purchase of approximately 201,000 acres of timberlands in Alabama and Mississippi from affiliates of Resource Management Service, LLC for $384 million. The transaction was first announced on October 20, 2014.
"We are very pleased to complete the acquisition of high quality timberlands in Alabama and Mississippi," said Michael Covey, chairman and chief executive officer. "Because we expect the acquisition to be immediately accretive to funds available for distribution and our performance continues to be strong, we are increasing our dividend a second time, or more than 20 percent, since the third quarter of 2013. Our goal remains to grow the dividend sustainably over time," concluded Mr. Covey.
For a dividend history and other dividend-related data on Potlatch Corp. (PCH) click here.
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