SEATTLE, Nov 02, 2010 (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, 2010, to shareholders of record as of Nov. 16, 2010. 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.

SOURCE: Plum Creek Timber Company, Inc.

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