PotlatchDeltic Announces Implementation of 10b5-1 Share Repurchase Plan
September 08 2020 - 4:10PM
Business Wire
On September 8, 2020,
PotlatchDeltic (NASDAQ:PCH) entered into a trading plan for the
purpose of repurchasing a limited number of the Company’s common
shares in accordance with the guidelines in Rule 10b5-1 of the
Securities Exchange Act of 1934, as amended, and the Company’s
policies regarding share transactions. This plan has been
established in accordance with, and as a part of, the Company’s
share repurchase program previously announced on August 30, 2018.
Repurchases under the Company’s 10b5-1 plan will be administered
through an independent broker and are subject to SEC regulations,
as well as certain price and principal constraints specified in the
plan. There is no guarantee as to the exact number of shares that
will be purchased under the plan, or that there will be any
purchases pursuant to the plan.
The plan becomes effective on
October 29, 2020 and expires upon expenditure of the principal
specified in the plan, an early termination event (as specified in
the plan), or the close of business on October 26, 2022, whichever
occurs first.
“Implementing a 10b5-1 plan reflects our commitment to
repurchasing our shares at attractive prices, as part of a broader
capital allocation strategy focused on increasing shareholder value
over the long term,” said Jerry Richards, vice president and chief
financial officer. “As a reminder, we repurchased approximately 1.2
million shares in 2019 and 2020 and we currently have $59.5 million
remaining on our current share repurchase authorization,” stated
Mr. Richards.
About PotlatchDeltic
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, Minnesota 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 dedicated to long-term stewardship
and sustainable management of its timber resources. More
information can be found at www.potlatchdeltic.com.
Forward-Looking Statements
This communication contains statements that are forward-looking
within the meaning of the federal securities laws, including,
without limitation, our expectations regarding the repurchases of
its common stock under the share repurchase program.
Forward-looking statements involve substantial risks and
uncertainties that may cause actual results to differ materially
from expectations. These risks and uncertainties include our share
price, the trading volume of our shares, the nature of other
investment opportunities presented to us from time to time, our
cash flows from operations, general economic conditions, and other
risks and uncertainties that are more fully described in our
filings with the Securities and Exchange Commission, including the
section entitled “Risk Factors” in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2019, and subsequent
reports that we file with the Securities and Exchange Commission.
Forward-looking statements represent our beliefs and assumptions
only as of the date of this press release, and we undertake no
obligation to update these forward-looking statements after the
date of this news release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200908005920/en/
(Investors) Jerry Richards 509-835-1521
(Media) Anna Torma 509-835-1558
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