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CatchMark Timber Trust (NYSE: CTT) announced the tax treatment for 2021 dividends, totaling $0.48 per share. The company distributed cash dividends throughout the year, with payments of $0.135 per share on March 15, June 15, and September 15, and $0.075 on December 15. All distributions were classified as non-dividend distributions (return of capital). This information is vital for shareholders for tax reporting purposes, and they are advised to review their Forms 1099-DIV alongside other tax documents. CatchMark focuses on maximizing cash flows from its timberland assets.
CatchMark Timber Trust (NYSE: CTT) is set to announce its fourth quarter 2021 earnings on February 10, 2022, after market close. A conference call will follow on February 11, 2022, at 10 a.m. ET, to discuss the results. Investors can participate by calling 1-888-347-1165 for U.S. and Canadian inquiries or 1-412-902-4276 for international calls. The live webcast will be available on the company's website.
CatchMark focuses on strategic timberland management and owns interests in 370,100 acres across Alabama, Georgia, and South Carolina.
CatchMark Timber Trust (NYSE: CTT) has published its 2020 Carbon Report, revealing significant environmental contributions through its timberland operations. The report indicates that CatchMark sequestered nearly 1.9 million metric tons of CO2 and achieved a positive net carbon impact of approximately 1.2 million metric tons of CO2 in 2020. The report underscores the company's commitment to sustainability, with total carbon sequestered from forests and harvested products reaching 1,888,752 metric tons. CatchMark aims to enhance environmental initiatives, responding to climate challenges while maximizing shareholder value.
CatchMark Timber Trust (CTT) reported Q3 2021 results with notable highlights including record net income of $23.3 million and strong timber sales pricing despite a 10% decline in revenues to $22.1 million due to lower harvest volumes and the Bandon timberland disposition. Adjusted EBITDA fell 20% to $9.9 million. The company achieved year-over-year revenue stability in the U.S. South, driven by increased stumpage prices. CatchMark also strengthened its capital position, raising liquidity to $278.2 million after reducing debt with Bandon sale proceeds.
CatchMark Timber Trust (NYSE: CTT) announced a definitive agreement to redeem its common equity interest in TexMark Timber Treasury for $35 million in cash, closing the transaction immediately. Additionally, it will provide asset management services worth $5 million through Q1 2022. The total proceeds of $40 million will be used to pay down debt. CatchMark expects a new annualized dividend rate of $0.30 per share starting Q4 2021, reflecting the loss of revenue from the joint venture. The company reaffirmed its 2021 Adjusted EBITDA guidance, anticipating strong prospects for future growth.
CatchMark Timber Trust (NYSE: CTT) will announce its third quarter 2021 earnings on November 4, 2021, after market close. The company will hold a conference call on November 5, 2021, at 10 a.m. ET to discuss these results. Investors can join the call by calling 1-888-347-1165 (U.S./Canada) or 1-412-902-4276 (international). The live webcast is accessible via the company’s website. CatchMark focuses on generating stable cash flows from its timberland operations across 1.15 million acres in key U.S. regions.
CatchMark Timber Trust (NYSE: CTT) announced the successful sale of 300,000 acres of prime East Texas timberlands for $497 million, averaging $1,656 per acre. The buyer is a client of Hancock Natural Resource Group, a part of Manulife Investment Management. CatchMark manages the Triple T joint venture, which owns 1.1 million acres in East Texas. This strategic sale aims to enhance cash flow and deliver value to institutional investors while focusing on timberland management in high-demand mill markets.
CatchMark Timber Trust (NYSE: CTT) has completed the sale of 18,063 acres of Oregon timberland for $100 million, approximately $5,536 per acre, to Roseburg Resources Co. Acquired in 2018 for $88.8 million, the transaction resulted in a gain of $23 million. Following this sale, CatchMark has increased its full-year net income guidance to between $13 million and $17 million. The company aims to use most proceeds to reduce debt and focus operations in the U.S. South to exploit growth opportunities.
CatchMark Timber Trust (CTT) reported a strong second quarter in 2021, with revenues of $31.9 million, up 47% year-over-year, and net income of $1.8 million, compared to a loss of $6.2 million in 2020. The company declared a cash dividend of $0.135 per share, payable on September 15, 2021. Timberland sales revenue surged 356% to $7.6 million, aided by higher pricing and robust demand from lumber markets. Liquidity remains strong with over $180 million available, and the company is on track to meet full-year guidance, further supported by planned timberland dispositions.
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