Arctic Slope Regional Corporation (ASRC) is pleased to announce a change in its dividend policy. Under the direction of ASRC’s board of directors, the Corporation has amended its policy regarding the way it calculates the payout for its annual dividends to shareholders. It is the first such change since 2007, and it goes into effect immediately.
For the next 3 years (through the spring of 2015), ASRC will be targeting an annual payout of $50 per share. For a typical shareholder who owns 100 shares of ASRC stock, this target would equate to an annual dividend disbursement of $5000. The exact amount of each year’s dividend will be set and declared by the ASRC board of directors.
This amended policy takes advantage of the Corporation’s financial position, while aligning with the goals of the recently adopted 2012-2017 Strategic Plan.
This notice contains statements that relate to future events and expectations and, as such, constitute forward-looking statements. Forward-looking statements include those containing such words as “estimates,” “expects,” “forecasts,” “outlook,” “plans,” “predicts,” “projects,” “should,” “targets,” “will,” or other words of similar meaning. All statements that reflect ASRC’s expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements, including, without limitation, targeted financial results or operating performance, and statements about ASRC’s strategies, objectives, goals, targets, outlook, and business and financial prospects. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors and are not guarantees of future performance. ASRC disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.
Arctic Slope Regional Corporation is owned by and represents the business interests of the Arctic Slope Iñupiat. Since opening enrollment in 1989 to Alaska Natives born after 1971, the corporation’s shareholder base has nearly tripled, growing from the 3,700 original enrollees to around 11,000 today. Corporate headquarters are based in Barrow, Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. ASRC, along with its family of companies, is the largest Alaskan-owned company, employing approximately 10,000 people worldwide. The company has five major business segments: petroleum refining and marketing, energy support services, construction, government services and resource development.