Wavefuels declares $500 dividend

Petroleum News Alaska Staff

The executive committee of Wavefuels and Transportation said in mid-May it would pay a dividend based on the company’s 1999 financial results. Last year was the first full financial year for the firm.

Revenues in 1999 were $8,578,079 with earnings before depreciation/amortization, interest and taxes of $265,252, the company said. A dividend of $500 per unit was approved.

“We are very pleased with the results of our first full season and look towards continued growth in volume and dividends as we implement our investment plan,” said Willi Atti, chairman of the Wavefuels’ executive committee.

Wavefuels, owned by 18 Alaska Native corporations, is involved with wholesale and retail distribution of unleaded gas, heating oil, propane and lube oils to communities throughout Western Alaska. Wavefuels has locations in Anchorage and Bethel.