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POPE & TALBOT ANNOUNCES REGULAR QUARTERLY DIVIDEND PAYMENT, REPORTS ON RESTRUCTURING ACTIVITIES

 POPE & TALBOT ANNOUNCES REGULAR QUARTERLY DIVIDEND PAYMENT,
 REPORTS ON RESTRUCTURING ACTIVITIES
 PORTLAND, Ore., July 16 /PRNewswire/ -- Pope & Talbot Inc. (NYSE: POP) today announced a third-quarter dividend payment of 19 cents per share, payable Aug. 14, 1992, to shareholders of record of Aug. 3, 1992, according to Peter T. Pope, chairman, president and chief executive officer.
 Pope & Talbot further announced that additional restructuring decisions were made late in the second quarter which will lower future costs of doing business throughout the company.
 Earlier in the second quarter, it was announced that restructuring plans had resulted in the sale of approximately 22,000 acres of timberland in Oregon, and plans to close the Ladysmith, Wis., tissue plant. The current restructuring activities involve decisions across all operating divisions, as well as at the corporate level.
 There was a one-time charge against second-quarter results for the restructuring activities, except for the timberland sale which produced a significant profit.
 The restructuring activities are causing a delay in reporting second-quarter results, now expected to be released during the week of July 27. When reported, the company will show a small loss from restructuring activities because the various charges will total more than the profit realized on the timberland sale. Importantly, the restructuring charge will help future earnings by allowing the company to operate with a lower cost structure.
 Pope & Talbot Inc. is a publicly held, Portland-based paper, pulp and wood products company traded on the NYSE. Pope & Talbot was founded in 1849 and has operations throughout the United States and in Canada.
 -0- 7/16/92
 /CONTACT: C. Lamadrid of Pope & Talbot, 503-228-9161/
 (POP) CO: Pope & Talbot Inc. ST: Oregon IN: PAP SU: DIV


JH-SF -- SE004 -- 8478 07/16/92 11:20 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
Words:287
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