Printer Friendly

POPE RESOURCES ANNOUNCES CASH DISTRIBUTION

 POULSBO, Wash., Nov. 24 ~PRNewswire~ -- Pope Resources, (NASDAQ: POPEZ; PSE: PRP) today announced a cash distribution of 69 cents per unit, payable on Dec. 30 to unitholders of record as of Dec. 9.
 George H. Folquet, chief executive officer, said the distribution is due to income realized in 1992 and is intended to defray the unitholders' estimated federal income tax liability attributable to such income.
 "The partnership's strategy is to optimize the long-term value of our land and timber assets through reinvestment, not income and distribution," said Folquet. "By minimizing our net income, we ensure unitholders a minimal income tax liability."
 Pope Resources, a master limited partnership, owns 72,000 acres of timberland and development property in the Puget Sound area of Washington state.
 -0- 11~24~92
 ~CONTACT: Tom Ringo of Pope Resources, 206-697-6626, ext. 520~
 (POPEZ)


CO: Pope Resources ST: Washington IN: PAP SU: DIV

SW-LM -- SE001 -- 0944 11~24~92 09:59 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 24, 1992
Words:156
Previous Article:RAYTECH CORPORATION ANNOUNCES THIRD QUARTER RESULTS
Next Article:BUTTREY FOOD AND DRUG STORES CO. ANNOUNCES EARNINGS FOR THE THIRD QUARTER
Topics:


Related Articles
POPE RESOURCES ANNOUNCES CASH DISTRIBUTION
POPE RESOURCES REFINANCES LONG-TERM DEBT
ALBA-WALDENSIAN ANNOUNCES ORGANIZATIONAL MOVES
POPE RESOURCES REPORTS FIRST-QUARTER INCOME OF $569,000
RAYONIER TIMBERLANDS, L.P. ANNOUNCES SECOND QUARTER DISTRIBUTION
ATTENTION BUSINESS/FINANCIAL EDITORS:
Norske Skog Canada sells Mackenzie pulp mill to Pope & Talbot for cash, shares.
China-Biotics, Inc. Issues $25 Million 3 Year Convertible Note.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters