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BSNC Announces Record-High Regular, Elder Dividends

Overlooking the fall-colored tundra atop Anvil Mountain.

The Bering Straits Native Corporation (BSNC) Board of Directors has announced its 2017 regular shareholder dividends as well as a one-time 2017 elder dividend. Both are the highest of their type yet.

BSNC will issue $3.75 per share, plus a $750 bonus for original BSNC shareholders who are 65 years of age or older.

According to a press release, the regular shareholder dividend amount has also increased over the past several years: BSNC released $3.25 per share in 2015 and $3.50 per share in 2016.

This year’s elder dividend is also $250 more than the 2016 special elder distribution.

The average BSNC shareholder owning 100 shares of stock will receive $375. The total distribution will be approximately $2.4 million to BSNC’s shareholders of record.

Since 1972, BSNC has distributed a total of around $18 million in regular dividends and a total of $2.1 million in elder dividends.

BSNC Board Chairman Henry Ivanoff said the corporation is happy to be returning “tangible benefits” to its elders and shareholders and that the board and management are thankful for shareholder support.

The dividends will be issued in December, and BSNC’s annual meeting of shareholders is scheduled to take place on Saturday, October 7, in Nome.

Image at top: Overlooking the fall-colored tundra atop Anvil Mountain. Photo: KNOM.