The board of Directors for the Arctic Slope Regional Corporation announced two dividend distributions to take place in December of this year. This second payout for the year dwarfs the initial payout of $10 per share distribution made to shareholders in April.
The first of two dividends this December will be a regular dividend distribution of $40 per share, and the second is a special $60 per share dividend, both to be issued together, 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.”
Based out of Barrow on the North Slope, the ASRC is the largest Alaskan-owned company with 9,000 employees world-wide and has approximately 11,000 shareholders.
With this latest distribution in December, the ASRC will have distributed nearly $740,000,000 since its incorporation.
