WAINWRIGHT, AK — The Olgoonik Corporation Board of Directors (BOD) declared a 2021 shareholder dividend, payable through the Olgoonik Settlement Trust, at the quarterly meeting on March 25, 2021. In declaring a $13/share dividend by a resolution that received full support from every Board member, the BOD again made special mention of COVID-19 impacts on Olgoonik’s shareholder community, similar to 2020.
The BOD adopted a dividend policy in 2019 that uses a revenue-based formula to determine a sustainable dividend amount each year. Based on averaged revenue from 2018, 2019, and 2020, the dividend policy formula would have set the 2021 dividend at $12/share. Through member discussion and consensus, the 2021 dividend resolution to justify the increase from $12/share to $13/share included a clause that reads, “The Board of Directors recognizes that shareholders may need additional funds to bear the costs of exigencies created by the ongoing pandemic associated with the coronavirus…”
The 2020 dividend resolution included similar phrasing and justification for increasing the per share dividend amount beyond the revenue-based formula, too.
The 2021 dividend details are available in this Dividend Announcement Flyer and our staff has addressed some shareholder questions in this Dividend FAQ. We are working hard as a corporation to protect the health of our employees and our shareholders during this pandemic, so we are asking shareholders to complete online Change of Address forms and Direct Deposit forms whenever possible. We are accepting high quality cell phone photos of printed and completed forms to help expedite form submission this year. If you need to visit the Wainwright office or Anchorage office for assistance, we ask that you please call ahead so someone can coordinate that assistance. Our staff will be available by phone and email to answer questions and assist. Email ocstock@olgoonik.com with your dividend questions or call 907-763-2989 or 907-562-8728. Our offices receive a lot of calls this time of year, so please be patient and leave a message. Plan to include a good call-back phone number in your messages and on your forms so our dedicated staff can follow up.