CatchMark Timber Trust, Inc. announced today that the company's board of directors has approved a share repurchase plan for up to $30 million of the company's outstanding common shares. Management may make repurchases at its discretion through a variety of methods, including open-market purchases, privately-negotiated transactions, block trades, accelerated share repurchase transactions or pursuant to Rule 10b5-1 trading plans.

Jerry Barag, President and CEO of CatchMark, said: "The share repurchase plan represents an attractive additional use of our capital, supported by our strong balance sheet and ongoing growth strategy. We are able to reinvest in our business, generate shareholder returns, and return cash to our shareholders."

As of July 30, 2015, CatchMark had 39,551,605 common shares outstanding.

Purchases of common shares will be financed with general corporate funds, and, depending upon the amount of purchases and other factors, the company may also borrow funds under its credit facility. There is no guarantee as to the number of shares to be purchased. The share repurchase plan has no time limit and may be discontinued or suspended at any time.