ASRC Board declares $10.38 per share spring dividend
(Anchorage, AK) – At its March board meeting, the Arctic Slope Regional Corporation (ASRC) board declared a spring dividend of $10.38 per share to be issued on April 13, 2012. The average ASRC shareholder owns 100 shares of ASRC stock and will receive $1,038. The total dollar amount in the form of direct dividends paid out since incorporation is nearly $543 million.
“After a revenue cycle over the past two years that included some one-time gains, we are now seeing a more stable, sustained pattern concerning our corporate earnings,” said Crawford Patkotak, ASRC board chairman. “Looking forward, we are renewing our focus on growth and sustainability.”
ASRC president and CEO, Rex A. Rock Sr. said, “Despite a challenging business climate, we are grateful as a corporation to be able to announce a healthy 2012 spring dividend. The hard work and dedication of our employees and guidance from our board really made this possible.”
The ASRC board of directors typically authorizes two dividend distributions, one in the fall based on preliminary year-end financial performance estimates with a final “true-up” dividend in the spring, based on final financial results.
Highlights of ASRC 2012 spring dividend: The amount will be $10.38 per share. The total distribution will be approximately $12 million. This spring dividend brings the total dollars distributed since incorporation, in the form of dividends, to nearly $543 million.
Arctic Slope Regional Corporation is owned by and represents the business interests of the Arctic Slope Iñupiat. Since opening enrollment in 1989 to Alaska Natives born after 1971, the corporation’s shareholder base has nearly tripled, growing from the 3,700 original enrollees to around 11,000 today. Corporate headquarters are based in Barrow, Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. ASRC, along with its family of companies, is the largest Alaskan-owned company, employing approximately 10,000 people worldwide. The company has five major business segments: petroleum refining and marketing, energy support services, construction, government services and resource development.
Corporate Headquarters • PO Box 129 • Barrow, Alaska 99723-0129 • 907.852.8533 or 907.852.8633 • FAX 907.852.5733