ASRC spring dividend worth $1,653 for average shareholder
March 17th, 2011 | Alaska Newspapers Staff
At its March board meeting, the Arctic Slope Regional Corporation board declared a spring dividend of $16.53 per share to be issued on April 13, an ASRC press release said.
The average ASRC shareholder owns 100 shares of ASRC stock and will receive $1,653, a 33 percent increase from the 2010 spring dividend.
This distribution marks a significant milestone for the corporation, as the total dollar amount in the form of direct dividends paid out since its incorporation has risen above $500 million.
"To say that we have been able to distribute more than half a billion dollars to our shareholders in the form of dividends reflects our continued emphasis on sustainable earnings," said Jacob Adams, ASRC board chairman. "It's especially gratifying, when you consider the humble beginnings of this corporation. It's something we can all be very proud of."
ASRC president and CEO, Rex A. Rock Sr., said, "This is a historic achievement which will directly benefit our shareholders, and is the result of many years of hard work. We'll keep focusing on economic opportunities that allow for sustainable growth."
The ASRC board of directors typically authorizes two dividend distributions, one in the fall based on preliminary year-end financial performance estimates with a final "true-up" dividend in the spring, based on final financial results.