From Bill White --
The board of Arctic Slope Regional Corp. has declared a fall dividend of $51.83 per share, to be paid in mid-December.
The total payout will be about $60 million, the biggest regular dividend from ASRC, the company said.
The average ASRC shareholder owns 100 shares of ASRC stock and will receive $5,183. Barrow-based Native corporation for the North Slope region has about 11,000 shareholders.
The company typically pays two dividens a year. The fall dividend is based on preliminary estimates of company profits for the year. The spring dividend then is a “true-up” payment based on final company financial results from the previous year.
Arctic Slope said it has paid $484 million in dividends since the company was formed in the early 1970s out of the federal Alaska Native Claims Settlement Act.
Arctic Slope is engaged in a variety of industries, including oil refining, government contracting, oil-field services and construction. It also is part owner of the Alpine oil field on the North Slope. It is the largest Alaskan-owned, Alaska-based company, based on annual revenue.