Catchmark Timber Trust (CTT) Declares $0.135 Quarterly Dividend; 5.9% Yield

Catchmark Timber Trust (NYSE: CTT) declared a quarterly dividend of $0.135 per share, or $0.54 annualized.

The dividend will be payable on December 13, 2018, to stockholders of record on November 30, 2018, with an ex-dividend date of November 29, 2018.

The annual yield on the dividend is 5.9 percent.

Jerry Barag, CatchMark President and CEO, said: "The extremely strong third quarter operating performance kept us on track to meet full-year guidance for Adjusted EBITDA, and resulted directly from our long-held strategy to invest our capital only in top markets which are poised for near-term growth. As a result, we have consistently aggregated the industry's highest-quality timberlands, focusing primarily on the U.S. South where our targeted micro markets continue to outperform regional averages. Not only did we add more than 1.1 million acres of ownership interests in premium timberlands to our portfolio during the quarter, but the Triple T venture in Texas also has immediately contributed significant non-volatile asset management fee income. We also have quickly integrated our first Pacific Northwest acquisition in Oregon, known as Bandon, into operations. Bandon will begin contributing to overall timber sales revenue and over time help increase the sawtimber share of our harvest mix. As a result, we remain in an extremely favorable position to deliver sustainable growth to our stockholders and support our dividend."

For a dividend history and other dividend-related data on Catchmark Timber Trust (CTT) click here.

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