Poulsbo, Washington, USA, 21 May 2009 -- (BUSINESS WIRE) -- Pope Resources (NASDAQ:POPE) announced today a quarterly distribution of 20 cents per unit, effective for unitholders of record on 04 June 2009, and payable on 18 June 2009.
In addition, the partnership today announced that the company has extended its unit repurchase plan once the current authorization to repurchase USD 2.5 million of limited partner units is completed. The extension of the plan authorizes an additional repurchase of up to USD 2.5 million of limited partner units, subject to certain conditions and other contingencies established under the plan and certain restrictions arising under applicable law.
Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage more than 400,000 acres of timberland and development property in Washington and Oregon. In addition, the partnership provides forestry consulting and timberland investment management services to third-party owners and managers of timberland in Washington, Oregon, and California. The company and its predecessor companies have owned and managed timberlands and development properties for more than 150 years. Additional information on the company can be found at www.poperesources.com.