Barrow, Alaska – Ukpeaġvik Iñupiat Corporation (UIC) Board of Directors declared a shareholder dividend of $2.00 per share at its meeting in Barrow, Tuesday, November 7th, 2017. The average UIC shareholder owns 100 shares of stock and will receive a dividend of $200*; the dividend will be distributed on or about December 18, 2017 to shareholders of record as of November 29, 2017.
“In declaring this dividend, the Board of Directors has put a priority on our Inupiat values and on the interests and needs of our shareholders,” said UIC Board Chairman, Price E. Brower. “Moreover, despite a downturn in the oil industry and the poor economy of Alaska, UIC continues to provide vital employment opportunities for our shareholders and to develop a business strategy for future financial success,” Mr. Brower added.
President and CEO, Anthony E. Edwardsen noted: “Despite facing many business challenges during 2017, this dividend distribution is proof of UIC’s commitment to its shareholders.” Edwardsen added, “I also want to thank our dedicated employees, whose hard work has made it possible for UIC to fulfill its vision of creating shareholder value while providing quality services and products to our customers. Quyanaq (thank you).”
*UIC is in excess of its original Alaska Native Fund allotment which makes the entire dividend amount taxable.