ASRC Board Declares $40.00 Per Share Fall Dividend
(Anchorage, AK) – At its October meeting, the Arctic Slope Regional Corporation board of directors today declared a fall dividend of $40.00 per share to be issued in early December. The average ASRC shareholder owns 100 shares of ASRC stock and will receive $4,000. This dividend brings the total dollar amount distributed since incorporation, in the form of dividends, to more than $603 million.
“This fall 2012 distribution reflects a change in the Corporation’s policy toward its shareholder dividends,” said Crawford Patkotak, ASRC board chair and executive vice president of shareholder programs. “From now through the spring of 2015, I’m pleased to announce that we’re targeting an annual payout of $50 per share. I know what an important difference that will make in the lives of our shareholders, and reflects the hard work and dedication of our talented employees.”
Rex A. Rock Sr., ASRC president and CEO added, “This change in policy, the first since 2007, is one I’m very pleased with. It aligns with the goals of our Strategic Plan, and allows for growth in the Corporation.”
The ASRC board of directors typically authorizes two dividend distributions; one is distributed in the fall, with a “true-up” dividend in the spring. Based on the revised policy, the spring 2013 ASRC dividend is targeted at $10 per share. The exact amount of each year’s dividend will be set and declared by the ASRC board of directors.
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.
This notice contains statements that relate to future events and expectations and, as such, constitute forward-looking statements. Forward-looking statements include those containing such words as “estimates,” “expects,” “forecasts,” “outlook,” “plans,” “predicts,” “projects,” “should,” “targets,” “will,” or other words of similar meaning. All statements that reflect ASRC’s expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements, including, without limitation, targeted financial results or operating performance, and statements about ASRC’s strategies, objectives, goals, targets, outlook, and business and financial prospects. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors and are not guarantees of future performance. ASRC disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.
Posted: October 17, 2012