Oil Patch Bits: ASRC announces dividend milestone distribution

Following November’s scheduled disbursement to ASRC shareholders, ASRC has now distributed more than $1 billion dollars in dividend payouts to its owners since the formation of the company in the summer of 1972. ASRC is the first Alaska Native corporation to reach such a milestone.

“For ASRC to maintain this level of consistency throughout its 45 year history is a real testament to our team of hard-working, dedicated workers as well as the vision of the Corporation’s early leadership,” said Crawford Patkotak, ASRC board chairman. “It’s very rewarding to know our people and our region have benefited from these efforts.”

“This level of success is no accident; it has been by design,” added Rex A. Rock Sr., ASRC president and CEO. “This increase satisfies one of the goals of our 2012-2017 Strategic Plan, which called for $55 per share dividend by the end of the plan’s cycle. Even through periods of unpredictability in the local and national economies we have managed to grow by using Iñupiaq values as our guide, and I look forward to the next 45 years.”

The 2017 dividend distribution for ASRC shareholders was $55 per share. The typical ASRC shareholder owns 100 shares of ASRC stock and received $5,500.

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