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.

CLICK HERE TO READ MORE