We are always
looking at ways
to ensure we
are maximizing
shareholder
value
and how we generate
cash
and allocate
that capital
and like I said earlier,
we are fortunate
to have a number of levers
there.
But really,
if I take
each of those components
separately,
we've been very active in the market
repurchasing shares,
having done seven hundred thirty three
million
over the last
couple of years.
So we certainly
view that
as an attractive opportunity
for us to
deploy capital.
And then on the selling
of timberlands,
our view
is that the
value of
timberland
is only going up
over time
and recent transactions
certainly demonstrate
we are not the only one
with that viewpoint.
And so that's why we've got that target
to acquire one billion dollars
of timberlands
over the next several years
and ultimately
why we expect
to be a net
buyer
of timberlands
over time.
David Wold
Roman Ryan 