PotlatchDeltic to pay special dividend of about $3.54 per share
PotlatchDeltic announced payment of the previously announced $222 million special dividend. The dividend consisted of approximately 4.8 million shares of common stock and $44.4 million in cash. The special dividend is payable to shareholders of record as of September 27 in connection with the distribution of the accumulated earnings and profits of Deltic Timber Corporation as of February 20, 2018, the date Deltic merged into a wholly-owned subsidiary of the company. Based on the shares outstanding on September 27, the dividend value per share is $3.53809258. The shareholders who elected to receive the special dividend in cash will receive $1.04629213 per share in cash and $2.49180045 per share in stock. Those receiving the dividend in stock will receive $3.53809258 per share in stock. After paying the dividend, the company will have approximately 67.6 million common shares outstanding.