PotlatchDeltic Corporation Announces $200 Million Share Repurchase Authorization
PotlatchDeltic Corporation announced that its Board of Directors approved a new $200 million share repurchase program. This program replaces the existing $100 million share repurchase program authorized in August 2018.
“Returning cash to our shareholders through opportunistic share repurchases remains an important part of our capital allocation strategy,” said Jerry Richards, vice president and chief financial officer. “Today’s announcement reflects our Board’s confidence in our ability to continue generating robust cash flows, as well as our commitment to growing shareholder value over the long term,” stated Mr. Richards.
PotlatchDeltic (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns approximately 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest practices, is committed to environmental and social responsibility and to responsible governance. More information can be found at www.potlatchdeltic.com.
Jerry Richards – Investor Relations – (509) 835-1521
Source: PotlatchDeltic Corporation