ASRC Board declares $51.83 per share fall dividend
(Fairbanks, AK) - At its October Board meeting, the Arctic Slope Regional Corporation (ASRC) Board today declared a fall dividend of $51.83 per share to be issued in mid-December. The average ASRC shareholder owns 100 shares of ASRC stock and will receive $5,183.
"I'm proud to able to present these dividends to our family of approximately 11,000 shareholders," said Jacob Adams, ASRC Board Chairman. "This is a reflection of our commitment to benefit those who we represent across the slope, and the value of the ASRC Strategic Plan."
ASRC President and CEO Rex A. Rock Sr. said, "This announcement is the result of many years of hard work to achieve such strong earnings. We'll keep focusing on ways of managing our corporate costs while achieving sustainable 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 2010 fall dividend:
· The total fall dividend distribution of approximately $60 million is the highest regular distribution issued by the corporation.
· The per share distribution amount of $51.83 is the highest regular per share distribution by the corporation.
· This dividend brings the total dollars distributed since incorporation, in the form of dividends, to approximately $483.8 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 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 over 10,000 people worldwide. The company operates four major business segments: petroleum refining and marketing, government technical services, energy services and construction.