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AIDEA Board Approves $17 Million Dividend

Dec 21, 2020 | Finance, Government

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The Board of the Alaska Industrial Development and Export Authority (AIDEA) approved a dividend of $17,305,000 to the State General Fund for FY22.

AIDEA paid its first dividend to the state in 1997, and with this year’s payout AIDEA will have paid dividends totaling more than $349 million to Alaskans over the last twenty-three years.

“AIDEA is fortunate to be in the position to be able to declare a dividend in this environment. At the end of the day, this dividend is representative of 2020,” says AIDEA Board Chairman Dana Pruhs. “But for the record, we foresee economic challenges to be met and overcome due to the economic impact to the state of Alaska from COVID-19.”

The board determines the amount of AIDEA’s annual dividend that is paid to the legislature for appropriation. Alaska statute provides a range for the dividend calculation, and the board chose to declare the FY22 dividend at the maximum amount.

AIDEA Executive Director Alan Weitzner adds, “The dividend distribution determined by the board underscores AIDEA’s commitment to the State of Alaska and our ongoing support to economic development across the state.”

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