Dear MTNT Shareholders,
We hope you, your family and friends are staying safe and healthy as we enter the holiday season.
It has continued to be a productive year considering the challenges we have all endured during this unprecedented time.
MTNT has operations in Alaska and throughout the Lower 48. Like many other businesses, MTNT has experienced project suspensions, delays in contract awards, conducted layoffs and more.
However, MTNT’s Board of Directors and employees continue to remain steadfast in upholding MTNT’s mission to our Shareholders. We have been able to issue dividends through the MTNT Settlement Trust which included the regular June dividend and the Special COVID-19 dividend and Special COVID-19 Elder dividend to our Shareholders in May 2020.
I am honored to announce on behalf of the MTNT Board of Directors that the MTNT Settlement Trustees have declared a regular December dividend in the amount of $3.15 per share to be distributed on December 11, 2020. Please make sure any changes in your Shareholder direct deposit information and mailing addresses are received by MTNT no later than the date of record, December 1, 2020.
As MTNT’s operations continue, we remain observant of the advice and directives of the State of Alaska and local community governments.
While protecting the health and safety of our employees and the communities we work in, McGrath Light and Power’s (ML&P) new power plant building is constructed with plans to install the new generators over the next couple months. In addition, MTNT entered into a Service Agreement with Doyon, Ltd. to provide contract administration oversight for the Material Sale Agreement between Doyon, Ltd. and Knik Construction for the airport runway project in McGrath.
Since March 2020, when we went into hunker down mode due to COVID-19, MTNT has won 14 projects with MTNT Technical Services, LLC winning nine sole source awards and MTNT IT & Communications, LLC has won several projects including a pilot project in Tanzania, Africa. While the Centers for Disease Control’s (CDC) construction projects came to a halt due to the COVID pandemic, work is slowly picking up again and MTNT Construction, LLC (MCL) was recently awarded two new task orders from CDC. MCL also recently completed the construction project in Kotzebue, Alaska and will start its construction project at Joint Base Elmendorf Richardson in Anchorage, Alaska in January.
Those are just some highlights of the work our dedicated team of employees, with the support of the MTNT Board of Directors, have been accomplishing for our Shareholders during this pandemic.
As we continue to strive to create opportunities for our Shareholders and their descendants, we encourage you to visit the careers page on the MTNT website and apply today if there is a position that interests you. MTNT has several career opportunities in Alaska and throughout the Nation. One closer to home is with ML&P. ML&P is recruiting for a dedicated trainee to work in McGrath and attend an operator training program in Seward, Alaska. ML&P will provide for the lodging and wages of the selected trainee during the three month program. ML&P is also recruiting for a skilled laborer to work with the project superintendent in McGrath to assist with the final stages of the new power plant. You can read more about the current openings in this issue of the newsletter and visit https://mtnt.net/careers to learn more.
While we are operating during uncertain times, we continue to move forward with realistic optimism. We have the tools to continue to make great things happen, even during these uncertain times. Considering the economic impact COVID is having on our environment, we will continue to monitor our costs and improve our operational efficiencies.
More now than ever, we hope that you, your families and your communities stay safe and healthy during this holiday season.
Chief Executive Officer