Plum Creek Timber Company, Inc. (NYSE:PCL) today announced a quarterly cash dividend of $0.42 per share. The dividend is payable on May 29, 2009, to shareholders of record as of May 15, 2009. Plum Creek’s dividend is expected to be characterized as long-term capital gain income primarily because the income generated by the sale of Plum Creek’s timber is considered long-term capital gain. As such, Plum Creek’s dividend is expected to be taxed at a maximum rate of 15 percent for most U.S. taxpayers.

Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.

Plum Creek Timber Company, Inc.
Investors: John Hobbs, 1-800-858-5347
Media: Robin Keegan, 1-888-467-3751