PotlatchDeltic Board Declares Increased Distribution on Common Stock

The board of directors of PotlatchDeltic Corporation (NASDAQ: PCH) declared a quarterly distribution on the Company's common stock. The distribution of $0.41 per share is payable December 31, 2020 to stockholders of record on December 15, 2020. This is a 2.5% increase relative to the prior quarterly dividend of $0.40 per share.

"Returning cash to shareholders through a secure, growing dividend and opportunistic share repurchases is an important and durable part of our capital allocation strategy,” said Jerry Richards, vice president and chief financial officer. "Since 2012, we have increased our dividend 32% on a per-share basis and our payout has more than doubled. In addition, we repurchased $41 million of shares at an average price of $34 per share the last two years. Our steady, conservative approach to the dividend coupled with investments in our businesses positioned us to reward shareholders despite these uncertain times.”

About PotlatchDeltic

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns approximately 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest practices, is dedicated to long-term stewardship and sustainable management of its timber resources. More information can be found at www.potlatchdeltic.com.

Forward-Looking Statements

This communication contains statements that are forward-looking within the meaning of the federal securities laws, including, without limitation, information about the Company’s capital allocation strategy, including our dividend program and share repurchase program. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include our share price, the trading volume of our shares, the nature of other investment opportunities presented to us from time to time, our cash flows from operations, general economic conditions and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including the section entitled "Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and subsequent reports that we file with the Securities and Exchange Commission. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release, and we undertake no obligation to update these forward-looking statements after the date of this news release, except as required by law.

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