When business development efforts are prosperous and projects are successfully executed and completed, MTNT is able to distribute additional revenue to Shareholders in the form of dividends. In 2012, the MTNT, Ltd. Board of Directors decided to strive for semiannual distributions when possible.
The amount of the dividends to be distributed is determined annually, using 10 percent of the prior fiscal year net income plus 50 percent of the 7(j) distributions we receive through ANCSA, after corporate taxes. When MTNT is able to declare dividends for the upcoming year, one-half of the approved annual dividend amount will be distributed to Shareholders by June 15, and the other half will be distributed by December 15.
In addition, when MTNT is able to, 25 percent of the annual 7(j) distribution, after corporate taxes, is distributed as a special dividend to our Elder Shareholders. If declared, this special dividend is also distributed by June 15 of the year.
In order to continue to fund future dividends, and when deemed feasible by the Board of Directors, the remaining 25 percent of the annual 7(j) distributions received, will be used to inflation-proof and grow the corpus of our MTNT Permanent Fund.
MTNT ANNOUNCES DECEMBER DIVIDEND FOR SHAREHOLDERS
The MTNT Board of Directors is pleased to announce a dividend distribution to its Shareholders. A dividend of $7.34 per share will be distributed to each Shareholder on December 15, 2016. A Shareholder with 100 shares will receive $734.
These distributions are a results of profits from operations and the Shareholder Permanent Fund. The MTNT staff worked hard to make the operations profitable. Because of our employees’ hard work and the Board’s governance, $6.17 per share is being distributed from those profits. Also, the Shareholder Permanent Fund performed well which added $1.17 per share to the distributions. Please make sure any change in addresses are received by the MTNT Anchorage office no later than December 2, 2016.
|MTNT Dividends and Distributions per Share|
|MTNT Elder Dividends and Distributions per Share|