Koniag, Inc, one of the thirteen regional corporations announced on Friday that they have cancelled the three Christmas parties traditionally held in Seattle, Anchorage and Kodiak this year.

According to a release made on their site by the corporation, the corporation cited commitments to the shareholders to reduce operation costs for the cancellation of the yuletide celebrations in Washington and Alaska.

They said that even though the annual parties were increasing in popularity, they were eliminating the get-togethers because only a small portion of their shareholders are able to participate in the festivities.

Koniag also stated that they needed to demonstrate their determination to improve the corporation’s financial performance as they lessened their reliance on government contracting and began making substantial investments in new industries.

Koniag, Inc announced a substantial reduction in their dividend distribution earlier this year at their annual meeting in October. The announced dividend for this year is $3.00 per share for A, B, and C stocks. The previous dividend announced in 2011 was $10.65 per share.

Those checks or deposits will be made or sent on January 24th of 2013.