Arctic Slope Regional Corporation Board Announces Two Dividend Distributions
Payout includes regular fall dividend of $40 per share as well as special $60 per share distribution
The Arctic Slope Regional Corporation (ASRC) board of directors has announced two dividend distributions for ASRC shareholders this fall. The first dividend declared is a regular dividend distribution of $40 per share, and the second is a special $60 per share dividend, both to be issued together in early December, with the payout totaling $100 per share. The average ASRC shareholder owns 100 shares of ASRC stock and will receive $10,000. These dividends bring the total dollar amount distributed since incorporation, in the form of dividends, to nearly $740 million.
“This $100 total per share payout illustrates that ASRC can follow a strategic business plan based on the traditional values of the Iñupiaq culture; values like cooperation, sharing, compassion and stewardship,” said Crawford Patkotak, ASRC board chair and executive vice president of shareholder programs. “These are cornerstones of the company as they are in the Iñupiaq culture upon all ASRC shareholders.”
“We recognize the importance of providing meaningful returns to all of our shareholders and with winter and the holiday season fast approaching – this significant distribution will provide timely financial assistance to them,” added Rex A. Rock Sr., ASRC president and CEO. “Without the leadership of our board of directors and the commitment from our team of hard-working employees, this combination of dividends would not have been possible.”
This year, the ASRC board authorized two dividend distributions – one for the fall, with another distributed in the spring. The spring 2013 dividend was $10 per share, and was distributed in April.
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.
Posted: October 23, 2013