Sitnasuak Native Corporation Declares 2016 Dividend
December 7, 2016
The Board of Directors of Sitnasuak Native Corporation (SNC) are pleased to announce a special Elders dividend of $500 and regular shareholder dividend of $6.00 per share (or $600.00 for those with 100 shares) to all shareholders of record as of December 7, 2016. Shareholders who are 65 or older as of December 7, 2016, will receive a special Elders dividend of $500. Distribution will begin on December 13, 2016.
“The Sitnasuak Board of Directors and Management declared both the special Elder dividend and shareholder dividend based upon the achievements of our businesses over the past year. The dividends recognize the important commitment to benefit our shareholders while ensuring the financial stability of the corporation. The 2016 earnings and dividends reflect the dedicated teamwork of our Board of Directors, Management and Employees to run thriving businesses that support our people and communities,” said Robert (Bobby) Evans, SNC’s Board Chairman. “This action of the Board of Directors demonstrates our commitment to all shareholders and especially our Elders. We wish everyone and their families the best during this holiday season.”
The corporation dividend amount is based on a review of SNC’s dividend policy and both historical and projected financial performance. This is the fifth year that SNC has distributed an extra benefit to our Elders. Other shareholder benefits include camp and home sites, bereavement assistance and scholarships.
SNC is one of the Alaska Native village corporations created in 1971 under the Alaska Native Claims Settlement Act (ANCSA). SNC is headquartered in Nome, Alaska and is the largest of 16 village corporations in the Bering Straits region. SNC is owned by almost 2,900 Alaska Native shareholders.