Sitnasuak Native Corporation (SNC) is pleased to announce that the Board of Directors declared a dividend of $6.20 per share to all shareholders of record as of November 24, 2015. Shareholders who are 65 or older as of November 24, 2015, will receive an additional Elder’s dividend of $500. Dividends will be put in the mail the first part of December.
“The Sitnasuak Management and Board of Directors are excited to declare both the Elder’s dividend and shareholder dividend. When we decide to declare these dividends and how much that will be, we have to look at the financial performance of all our companies. The 2015 earnings were very good again this year in an unstable Alaskan economy,” said Robert (Bobby) Evans, SNC’s Board Chairman. “Our Corporation’s values, followed by the current management and Board of Directors have supported the continued success of Sitnasuak. This action of the Board demonstrates our commitment to our Elders and all shareholders. We hope this dividend helps all shareholders during the holiday season.”
Evans said the dividend amount is based on SNC’s dividend policy and a review of projected income for calendar year 2015. This is the fourth year that SNC has distributed an extra benefit to its Elders.
SNC is one of the Alaska Native village corporations created in 1971 under the Alaska Native Claims Settlement Act (ANCSA). SNC is headquartered in Nome, Alaska and is the largest of 16 village corporations in the Bering Straits region. SNC is owned by almost 2,900 Iñupiat shareholders.