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BSNC Board Announces 2009 Election Results and Dividend


(Nome, AK) - At their Oct. 3 annual meeting, Bering Straits Native Corporation (BSNC) shareholders reelected incumbent directors Neal W. Foster, Stephan Ivanoff and Percy K. Nayokpuk and elected Martha Anagick Aarons and Jason Evans as new directors.

The BSNC Board of Directors approved a dividend of $1.50 per share for a total payout of $950,000. "We're very pleased that our 2009 financial performance has allowed the corporation to pass on some of those earnings to our shareholders," BSNC President and CEO Tim Towarak said. "We thank our shareholders for their support during this growth period for the corporation."

Towarak has lead the company since August 2000, during which time BSNC's gross revenues have grown from $9 million to today's $162 million. "We can thank, in part, the efforts of the Anchorage office staff who have worked to implement the Board's decision to expand BSNC's involvement in federal contracts through the Small Business Administration's 8(a) program," BSNC Executive Vice President Gail Schubert said. "We're delighted with that segment's success.  Clearly, the 8(a) program works, as one of our graduated 8(a) companies, Inuit Services, Inc., recently won the contract to build the new Norton Sound Regional Hospital in a joint venture with Neeser Construction, Inc."

This year's checks will be mailed by December. BSNC has approximately 6,300 shareholders and includes the villages of Brevig Mission, Council, Diomede, Golovin, King Island, Koyuk, Mary's Igloo, Nome, Shaktoolik, Shishmaref, Solomon, St. Michael, Stebbins, Teller, Unalakleet, Wales and White Mountain.

Headquartered in Nome, the corporation's regional operations include real estate management and development, tourism, construction, mining services and sales of rock and aggregate. BSNC's Anchorage office and other subsidiaries outside Alaska provide services to the federal government and other customers through the Small Business Administration's 8(a) program.

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