Nov 05, 2008. /Lesprom.com/. Plum Creek Timber Company, Inc. announced a quarterly cash dividend of $0.42 per share. The dividend is payable on November 28, 2008, to shareholders of record as of November 17, 2008. 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 is the largest and most geographically diverse private landowner in the nation with more than 7 million acres of timberlands in major timber producing regions of the United States and 10 wood products manufacturing facilities in the Northwest.