During its October board meeting, the Arctic Slope Regional Corporation announced this fall's shareholder dividend will be $40. The average Arctic Slope shareholder holds 100 shares of stock, making the average payout per person $4,000.
The money will be distributed in early December.
The dividend is up more than $5 from last year's $34.21 per share fall dividend, meaning most shareholders will receive an additional $569 compared to the fall of 2011. Following the December distribution, Arctic Slope will have distributed more than $603 million in dividends to shareholders since incorporation.
"This fall 2012 distribution reflects a change in the corporation's policy toward shareholder dividends," said Arctic Slope chair Crawford Patkotak in a release. Patkotak is also executive vice president of shareholder programs for the corporation.
"From now through the spring of 2015, I'm pleased to announce that we're targeting an annual payout of $50 per share. I know what an important difference that will make in the lives of our shareholders, and reflects the hard work and dedication of our employees."
Arctic Slope estimates next spring's payout should be about $10 per share, or approximately $1,000 per shareholder. The most recent spring dividend was $16.53 per share, giving shareholders an average $1,500 boost at the April distribution time. That amount was up 33 percent from the previous year.
Rex A. Rock, Sr., Arctic Slope president and CEO, spoke highly of the corporation's new dividend-distribution management.
"This change in policy, the first since 2007, is one I'm very pleased with," Rock said in a press release. "It aligns with the goals of our strategic plan and allows for growth in the corporation."
Arctic Slope currently has approximately 11,000 shareholders, nearly triple the organization's starting enrollment of 3,700 in 1989. It is estimated that the corporation employs 10,000 people around the world through its various business entities and investments.
Hannah Heimbuch can be reached at firstname.lastname@example.org.