UIC Board Declares Annual Dividend of $6.50 Per Share
Barrow, Alaska (October 28, 2013) – The Ukpeagvik Iñupiat Corporation (UIC) Board of Directors (Board) declared a regular dividend of $6.50 per share at a October 21, 2013 special board meeting in Fairbanks, Alaska. The average UIC shareholder owns 100 shares of stock and will receive a dividend of $650. The dividend will be distributed by December 13, 2013 to shareholders of record as of November 18, 2013. UIC is in excess of its original Alaska Native Fund allotment which makes the entire dividend amount taxable.
"The Board understands the positive economic impact that dividends have on our shareholders, and because of this we revised the UIC Stable Dividend Policy earlier this year to create more stable dividends for the long-term,” said Price E. Qaiyaan Brower, UIC Chairman of the Board.
"We are very grateful to have had yet another successful year at UIC and proud to be able to return a portion of profits made back to our shareholders in the form of dividends," said Anthony E. Sakiq Edwardsen, UIC President and Chief Executive Officer.
UIC is the Alaska Native Village Corporation of Barrow, Alaska and provides social and economic resources to over 2,500 Iñupiat shareholders and their descendants. Since its establishment, UIC has diversified its investments and consistently ranks among the top largest Alaskan-owned companies (Alaska Business Monthly). UIC has over 2,000 employees and provides services to clients in a variety of industries, including operations in Barrow, construction, architecture and engineering, regulatory consulting, information technology, marine operations, logistics, and maintenance and manufacturing. More information about UIC and its family of companies can be found at www.uicalaska.com.