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NANA announces 2017 shareholder dividends

October 6th 12:21 pm | Shady Grove Oliver Print this article   Email this article  

After a year-long dry spell, NANA shareholders will receive a dividend this year.

The Northwest Arctic's regional corporation announced its fiscal year 2017 dividend amount of $8 per share on Sept. 27.

"Paying a dividend to NANA shareholders is a top priority," said NANA Regional Corp. Board Chair Linda Lee in the announcement. "The NANA board is pleased to provide this important benefit to our shareholders."

The total distribution amounts to about $12.9 million, the corporation said, which will be paid out to roughly 14,200 shareholders. Divided evenly, that totals about $908 per person.

Two years ago, the shares were the same amount divvied up among slightly fewer shareholders, making this a comparable payout to those before the canceled dividend last year.

The corporation cited "challenges with the economy and business performance" in a letter to shareholders announcing the lack of a dividend last September. Shareholders expressed concern at that time about the corporation's management and financial security, specifically within NANA Development Corp., the business subsidiary of the larger entity.

This year's dividend is welcome news to residents who, in some cases, depend on the substantial infusion of cash to prepare for the long winter months ahead.

Dividends will be paid out to shareholders of record as of Nov. 13. NANA reminds shareholders that to "ensure that there are no delays," they must have a current mailing address on file with shareholder records. Any updates to those records must be made by Nov. 1 in order to receive a timely distribution by the end of the month.

 

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