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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
DECEMBER 18, 1997
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
DELTIC TIMBER CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 1-12147 71-0795870
(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
210 EAST ELM STREET, EL DORADO, ARKANSAS 71730
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (870) 881-9400
(NOT APPLICABLE)
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 1. Not Applicable
Item 2. Not Applicable
Item 3. Not Applicable
Item 4. Not Applicable
Item. 5. On December 18, 1997, Deltic Timber Corporation issued $30 million of
7.54 percent Cumulative Mandatory Redeemable Preferred Equity ("the Preferred")
to The Prudential Insurance Company of America. The Preferred is redeemable on
December 31, 2002 at par value. Dividends are cumulative and payable quarterly
beginning March 15, 1998.
See the attached press release dated December 18, 1997 included as a
part of this report as Exhibit No. 1.
Item 6. Not Applicable
Item 7. Not Applicable
Item 8. Not Applicable
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Deltic Timber Corporation
By:
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Date: December 23, 1997 W. Bayless Rowe, Secretary
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EXHIBIT NO. 1
[DELTIC TIMBER CORPORATION LETTERHEAD APPEARS HERE]
NEWS RELEASE
December 18, 1997
3:30 (CST)
Deltic Timber Corporation (NYSE-DEL) today issued $30 million of 7.54 percent
Cumulative Mandatory Redeemable Preferred Equity ("the Preferred") to The
Prudential Insurance Company of America ("Prudential"). The Preferred is
redeemable on December 31, 2002 at par value. Dividends are cumulative and
payable quarterly beginning March 15, 1998.
President and Chief Executive Officer, Ron L. Pearce, commented, "We are pleased
to have Prudential as a shareholder and appreciate the confidence they have in
our business plan. This confidence is evidenced by their subscription to our
entire $30 million Preferred issue." Chairman of the Board, Robert C. Nolan
said, "This equity issue will facilitate continuation of the growth strategy we
enumerated before investors at the time of our spin off from Murphy Oil
Corporation almost one year ago. As an independent public company Deltic is
better able to access the capital markets than as a subsidiary. Proceeds will
be utilized to fund Deltic's ongoing timberland acquisition program which has
added over 29,000 acres since its inception and for general corporate purposes."
Deltic was assisted with this issue by Stephens Inc. of Little Rock, Arkansas.
