ASRC Board Declares $34.31 Per Share Fall Dividend
(Anchorage, AK) – (Anchorage, AK) – At its October board of directors meeting, the Arctic Slope Regional Corporation board today declared a fall dividend of $34.31 per share to be issued in early December. The average ASRC shareholder owns 100 shares of ASRC stock and will receive $3,431. This dividend brings the total dollar amount distributed since incorporation, in the form of dividends, to approximately $542.5 million.
“During these uncertain economic times, we recognize how important these dividends are to our shareholders,” said Jacob Adams, Sr., ASRC board chairman. “As we near our 40th anniversary, it’s gratifying to see the difference the corporation and its employees have made to our North Slope communities.”
ASRC president and CEO Rex A. Rock, Sr. said, “While this dividend amount is a bit lower than what our shareholders saw a year ago, it wasn’t entirely unexpected. This distribution reflects the impact of declining North Slope oil production and other operational challenges, as well as the importance for the corporation to continually look for ways of diversifying its sources of revenue, and improving its sustainable earnings.”
The ASRC board of directors typically authorizes two dividend distributions, one in the fall based on preliminary year-end financial performance estimates with a typical “true-up” dividend in the spring, based on final financial results.
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
Posted: October 19, 2011