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TheStreet Open House

Potlatch's CEO Presents At UBS Global Industrials Conference (Transcript)

Potlatch Corporation (PCH)

UBS Global Industrials Conference Transcript

September 12, 2012 3:30 PM ET

Executives

Mike Covey - Chairman, President and CEO

Eric Cremers - EVP and CFO

Analysts

Gail Glazerman - UBS Securities

Presentation

Gail Glazerman - UBS Securities

All right. So we’re going to continue and finish theme of the conference on housing side of the industry and as Mike Covey, before he could get into the fiber supply dynamics, I think, I’ll let Potlatch management make up our comers.

Just that, so with us today, we’ve got Mike Covey, Chairman and President and CEO of Potlatch; and Eric Cremers, EVP and CFO, for those of you might have missed the press release a couple months go, Eric has recently assumed a few operating responsibilities as well, I believe in-charge of Idaho.

Eric Cremers

Correct.

Gail Glazerman - UBS Securities

So, with that, and I apologize anyone on the webcast for the delay. We will turn it over Mike and Eric.

Mike Covey

Yeah. Thanks Gail. I know many of you sat through Paul’s presentation few minutes ago. I did and I won’t spend much time on the housing part, since he already covered it very well, painted a pretty active picture.

For those on the webcast there are forward-looking statements in our presentation which you can refer to on the website, as well as our printed material.

Potlatch is actually one of four timber REITs as you probably know. Our enterprise value of about $1.8 billion today, we are the smallest of the four timber REITs, in a very attractive dividend of $1.24 per share with the yield just under 3.5% today. We’re the fourth largest, as I mentioned with ownership in three geographic regions, which I’ll cover in just a minute.

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