ASRC Board Declares $10.00 per Share Spring Dividend
(Anchorage, AK) – At its March board meeting, the Arctic Slope Regional Corporation (ASRC) board of directors declared a spring dividend of $10.00 per share to be issued on or about April 12, 2013. The average ASRC shareholder owns 100 shares of ASRC stock and will receive $1,000. The total dollar amount in the form of direct dividends paid out since incorporation now exceeds $615 million.
“These healthy returns reflect the overall strength of the Corporation, while at the same time help to build long-term shareholder value,” said Crawford Patkotak, ASRC board chairman.
ASRC president and CEO, Rex A. Rock Sr. agreed, saying “This demonstrates the invaluable guidance from our board of directors, and the commitment of our employees. We aim to deliver value to our shareholders while positioning ourselves for sustainable, profitable long-term growth.”
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 2013 spring dividend:
- The amount will be $10.00 per share.
- The total distribution will be approximately $12.1 million.
- This spring dividend brings the total dollars distributed since incorporation, in the form of dividends, to more than $615 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.