Pope Resources Increases Its Quarterly Distribution by 12%
23 August 2006 - 10:30PM
Business Wire
Pope Resources (Nasdaq:POPEZ) announced today a quarterly
distribution of 28 cents per unit, effective for unitholders of
record on September 8, 2006 and payable on September 22, 2006. This
represents a 12% increase in the partnership's quarterly
distribution, or a three-cent increase from the prior quarterly
distribution of 25 cents per unit. "We are pleased to be able to
grow our distribution rate, while at the same time assuring that we
have adequate capital to facilitate the company's future growth
initiatives," said David L. Nunes, President and CEO. About Pope
Resources Pope Resources, a publicly traded limited partnership,
and its subsidiaries Olympic Resource Management and Olympic
Property Group, own or manage over 400,000 acres of timberland and
development property in Washington and Oregon. In addition, we
provide forestry consulting and timberland management services to
third-party owners and managers of timberland in Washington,
Oregon, and California. The company and its predecessor companies
have owned and managed timberlands and development properties for
more than 150 years. Additional information on the company can be
found at www.orm.com. The contents of our website are not
incorporated into this release or into our filings with the
Securities and Exchange Commission.
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