Plum Creek (PCL) Announces New $200M Buyback
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Plum Creek (NYSE: PCL) completed its previously approved $200 million open-market share repurchase program and that its board of directors authorized an additional $200 million share repurchase program.
CEO Rick Holley said, "This action underscores our conviction about the long-term value of our assets and our strategy to create and capture shareholder value. Through these actions, we have acquired attractively priced timber and land assets in the stock market, increasing our shareholders' proportionate ownership interest in these assets. We will continue our disciplined approach to capital allocation, taking into consideration all our options for long-term value creation."
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