The board of directors of The Kuskokwim Corporation has approved distribution of $3.01 per share for its shareholders of record.
This is the second largest payment per share since the dividend program was established in 1981. Checks are to be mailed the following week on May 13 with the average shareholder receiving $301 for 100 shares owned.
This year's distribution of contributed capital, an annual disbursement which began in 1981, are a result of unprecedented revenues totaling $149.4 million in 2010 realized from investments in aerospace, real estate, and construction.
"I am pleased that our subsidiaries performed beyond expectation last year," said Maver Carey, TKC president/CEO. "I am hopeful future dividends will continue to grow."
Carey said number of shareholders has increased from 1,100 in 1994 to more than 3,300 today. As a result, TKC's board of directors approved an additional 2,000 shares of Class B stock.
"This past week, one of the shareholders mentioned that they were going to buy new fishing nets with their family's dividends, which will also be spent on preparing for the upcoming fishing season and other spring activities, such as bird hunting," said Dunia Morgan TKC chairwoman of the board of directors.
"It's great that our corporation shares in the profits with our descendants, our most valuable resource."
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