Aug 03, 2011. /Lesprom Network/. Plum Creek Timber Company, Inc. announced a quarterly cash dividend of $0.42 per share. The dividend is payable on August 31, 2011, to shareholders of record as of August 16, 2011. 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% for most U.S. taxpayers. Plum Creek Timber is the largest and most geographically diverse private landowner in the nation with approximately 6.7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.