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  6.  | Goldbelt Inc. Reports Record Profitability, Special Summer Distribution

Goldbelt Inc. Reports Record Profitability, Special Summer Distribution

Jul 15, 2021 | Alaska Native, News

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 At its 47th Annual Meeting of Shareholders, Goldbelt made several announcements, including a summer distribution, continued record profitability, and the 2021 election results.

To celebrate Goldbelt’s financial success to date in 2021, Goldbelt announced a special summer dividend for shareholders. The dividend of $7 per share has a scheduled record date of July 23 with a distribution date of August 6.

“The board of directors has been deliberating over how we can increase benefits to shareholders, especially in this time of need,” says Chairman Todd Antioquia. “Just yesterday, the board approved a special summer distribution of $7 per share. I have the honor and privilege to be able to report the net income and revenue to date which has allowed us to create this distribution. The pace at which Goldbelt has achieved these numbers is phenomenal. I am proud to report that we can provide this distribution to shareholders while maintaining the integrity of our future planning and strategic plan as we have paced and outpaced our expectations.”

Goldbelt management reported a record performance from January to May of the 2021 fiscal year with a total revenue exceeding $228 million and $17.5 million in net income to-date.

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“While Goldbelt budgeted for yet another record year in 2021, we’re now expecting to have greater gross revenue and to double our net income this year,” says President and CEO McHugh Pierre. “I attribute that financial success to the resilience and strength of our people, our effective leadership, the sound judgement of our Board of Directors, and the strategic efforts from our staff to utilize all of our available recourses.”

At the meeting, three directors concluded their terms: Richard A. Beasley, Ben Coronell, and Katherine Eldemar. Ben Coronell, Richard A. Beasley, and Katherine Eldemar were reelected to each serve a three-year term that will expire in 2024.

All three elected directors were sworn in following the Annual Meeting, with their terms beginning effective July 10, 2021. Nine shareholders ran for the board of directors in 2021. 67 percent of voting shares were represented during this year’s election, with a quorum reached on June 14, 2021.

Continuing directors include William Andrews, Todd Antioquia, Lisa-Marie Ikonomov, Lori Grant, Craig Kahklen, and Leilani Wilson Walkush. Immediately following the Annual Meeting, the board met for a reorganization meeting. Todd Antioquia will serve as Chair, Leilani Wilson Walkush as Vice-Chair, Lisa-Marie Ikonomov as Corporate Secretary, and Richard A. Beasley as Treasurer.

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