Kodiak Island's Alaska Native Regional Corporation, Koniag, Inc, announced on Wednesday that they had outlined a three point action plan during annual meeting that took place in Seattle over the weekend.

Board Chairman Ron Unger and Chief Financial Officer Chris Morgan presented the financial report for the Regional Native Corporation during the annual meeting in Washington that highlighted improved financial performance for the company. Unger also outlined progress in the companies three point action plan that included realignment of executive management, corporate cost reduction, as well as a focus on operating company performance. This new plan comes after the Corporation suffered its first operating loss in nine years during the last fiscal year.

“We promised our Shareholders that we would get Koniag back on track,” said Unger. “I’m pleased to report that we’ve made significant headway.”

Koniag stated that strong performance of her recently acquired subsidiary, Michigan – based open systems technologies D. E., LLC was in part responsible for the corporations turnaround and rebound. Koniag noted that improved performance in real estate, government services, and natural resources development also played a part in the corporation’s fiscal improvement.

During the annual meeting in Seattle, Koniag also announced a distribution of three dollars per share for their dividend. This amount equals the amount paid out in last year’s distribution.