PotlatchDeltic Corp. reported higher third-quarter income of $60.3 million on Monday, reflecting the merger of Potlatch and Deltic earlier this year.
The results amounted to 96 cents per basic share, on revenues of $289.2 million. In comparison, Potlatch Corp. reported 2017 third-quarter results of $33.7 million, or 83 cents per share, on revenues of $190.4 million.
“The financial objectives of the Deltic merger have exceeded our expectations,” Mike Covey, chairman and chief executive of the Spokane-based real estate investment trust, said in a news release.
During the fourth quarter, PotlatchDeltic will pay a special dividend of $3.54 per share.
Covey also said lumber market fundamentals remain strong despite a recent decline in prices.
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