Oil Patch Bits: Calista shareholder dividends total $4 million

Calista Corp. said April 6 that its board of directors voted April 5 to approve a shareholder dividend distribution totaling $3.99 million to shareholders of record dated March 29. This marks the fifth consecutive yearly dividend increase with distributions since inception at more than $17.4 million. Calista has one of the largest populations of shareholders among the Alaska Native corporations at more than 12,000 individuals. The April distribution equates to $3 per share. Checks were expected to be mailed out by the close of business April 13.

“Dividends are only one aspect of the ANCSA mandate to improve the socio-economic lives of Alaska Native Corporation Shareholders,” said Calista Corp. Board Chair Art Heckman. “Calista will continue to support our region through scholarships, internships, advocacy for regional infrastructure and employment opportunities.”

Strategic subsidiary business activities throughout Alaska and the United States in 2011 continued to enhance Calista’s revenue base

Calista Corp. 2011 year-end financial results include revenues of $300.5 million resulting in a net income of $15.7 million after taxes. Additionally, company assets grew to $233.37 million in 2011 from $201.56 million in 2010, due primarily to inventory and receivables.