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Pope Resources announces cash distribution.

POULSBO, Wash.--(BUSINESS WIRE)--Nov. 27, 1996--Pope Resources today announced a cash distribution of $1.75 per unit, payable on Dec. 30, 1996, to unitholders of record as of Dec. 9, 1996.

Gary F. Tucker, president and CEO, said the distribution follows an earlier distribution in mid-1996. Together, the two distributions relate to income expected to be realized in 1996 and are intended to assist the unitholders in meeting their federal and state income tax liability attributable to such income.

"The partnership's strategy continues to be the optimization of the long-term value of our land and timber assets through reinvestment, not income and distribution," said Tucker. "As previously announced, we have boosted somewhat the payout rate (from 37% to 42%) with the goal that our unitholders are `tax-whole' and, further, will increase the frequency of distributions to mirror the quarterly estimated tax requirements of our investors. We will shift in 1997 to a quarterly distribution schedule."

Pope Resources, a publicly-traded limited partnership, owns 76,000 acres of timberland and development property in the Puget Sound area of Washington state.

CONTACT: Pope Resources

Tom Ringo, 360/697-6626, ext. 520
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Publication:Business Wire
Date:Nov 27, 1996
Words:188
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