Plum Creek Timber Company, Inc. Announces Quarterly Dividend of $0.42 Per Share

SEATTLE--(BUSINESS WIRE)--Plum Creek Timber Company, Inc. (NYSE:PCL) today announced a quarterly cash dividend of $0.42 per share. The dividend is payable on Nov. 30, 2009, to shareholders of record as of Nov. 16, 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. For more information, visit www.plumcreek.com.