Feb 09, 2010. /Lesprom Network/. Plum Creek Timber Company, Inc. announced a quarterly cash dividend of $0.42 per share. The dividend is payable on March 5, 2010, to shareholders of record as of February 19, 2010. 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, the company said. Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.