SPOKANE, Wash., Dec. 6, 2013 (GLOBE NEWSWIRE) -- Potlatch Corporation (Nasdaq:PCH) today announced that its Board of Directors has increased the Company's quarterly dividend 13 percent to $0.35 per quarter. The board of directors of Potlatch Corporation has also declared a quarterly distribution on the Company's common stock. The distribution of $0.35 per share is payable December 31, 2013 to stockholders of record on December 17, 2013.
"We are pleased to raise our dividend following the marked improvement of business conditions, led by a recovery in housing and favorable markets for our wood products and Idaho timber businesses," said Michael Covey, chairman and chief executive officer. "Our goal is to grow the dividend sustainably over time," concluded Mr. Covey.
Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Arkansas, Idaho and Minnesota. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. For more information about the company, visit our website at www.potlatchcorp.com.
CONTACT: (Investors) Eric Cremers 509-835-1521 (Media) Mark Benson 509-835-1513