POTLATCHDELTIC CORP

PotlatchDeltic Corporation is a leading timberland REIT operating in nine states, owning 2.1 million acres of timberland across seven of those states. The company also owns six sawmills, an industrial grade plywood mill, a residential and commercial real estate development business, and a rural timberland sales program. PotlatchDeltic was incorporated in Delaware in September 2005 to qualify as a REIT for federal income tax purposes, succeeding the business of the original Potlatch Corporation, incorporated in Maine in 1903. In 2018, Deltic Timber Corporation merged into a wholly-owned subsidiary, after which Potlatch changed its name to PotlatchDeltic Corporation. The company's operations are organized into three business segments: Timberlands, Wood Products, and Real Estate. Its corporate headquarters are located in Spokane, Washington. As a REIT, PotlatchDeltic is generally not subject to federal and state corporate income taxes on income from real estate investments distributed to stockholders, including income from standing timber sales. However, it is required to pay federal and state corporate income taxes on income generated by its taxable REIT subsidiaries, which primarily include Wood Products manufacturing and certain real estate investment activities. The Timberlands segment provides stability, with high-quality timberlands under a tax-efficient REIT structure, representing over 80% of the company's gross asset value.