May 18, 2009. /Lesprom Network/. The Board of Directors of Potlatch Corporation has declared a quarterly distribution on the company's common stock. The distribution of $0.51 per share is unchanged from the previous 6 quarters, and is payable June 12, 2009, to stockholders of record on May 29, 2009. In addition, the company has announced a reduction in planned timber harvest, primarily in Idaho, amounting to 500 thousand tons or 18% of planned 2009 saw log harvest. “While the reduction will directly impact cash flow from operations, it is not in the best interest of the company to sell high quality saw logs at current prices,” said Michael J. Covey, Chairman, President and CEO. “Current markets for softwood lumber remain depressed, which has applied downward pressure on log pricing across the country, especially in the Intermountain West region. We believe these markets will come back at more favorable prices when housing recovers, and when they do, we are poised to step-up harvest levels.” Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.6 million acres of timberland in Arkansas, Idaho, Minnesota and Wisconsin. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary.