Pardee Resources (PDER) -- Strategic Portfolio Rebalancing and Consistent Dividends | Cedar Creek 2024 Q4

Natural Resources Portfolio Optimization and Strong Dividend History

Apr 13, 2025

Summary

Natural resources company with interests in coal, natural gas, timber, and agriculture.
Paid a $25 per share special year-end dividend in December 2024.
Announced sale of 47,000 acres of timberland to rebalance resource portfolio.
Trailing EBITDA per share over $41, with a recent share price of $310.

Pardee Resources (PDER, Financial) was re-entered by Cedar Creek Partners in Q4 2024, as noted in their fund letter. The company, with a market cap of $200 million, is a natural resources entity with diversified interests. Pardee's strategic decision to sell a portion of its timberland portfolio aims to optimize its resource allocation. The company has a history of paying substantial special dividends, with the latest being $25 per share at the end of 2024.

"The year-end special dividend is becoming regular. Pardee paid $15 per share in 2021, $20 per share in 2022, $15 per share in 2023 and $25 per share in 2024. The regular dividend is $1.80 per quarter. We estimate Pardee still has over $40 per share in cash at year end." — Tim Eriksen, Cedar Creek Partners, Q4 2024 Fund Letter

Read full letter at gurufocus Cedar Creek 2024 Q4 page.

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