2017 is behind us, and we are ready for the new year! 2017 was a busy and exciting year for our Corporation, and the Board is very happy to have been able to declare a $3 per share dividend for shareholders of record on November 27. The dividend was paid on December 6. Giving back to our shareholders is a priority for the Corporation.
The Board and management have continued to concentrate on making KIC successful for our shareholders, and the 2017 financials will be reflective of the efforts that have taken place over the last 12 months. As part of our continuing financial performance improvement efforts, the Board is currently in the process of recruiting for a new president and CEO to head up KIC in the Kotzebue office.
Under the Alaska Native Claims Settlement Act (ANCSA) and Alaska law, KIC corporate stock is treated differently than other property upon the death of the owner. For KIC to transfer your shares and reissue any outstanding checks upon your death, you must have a will or transfer form on file so your shares go to the person you designate. KIC currently does not have wills or transfer forms for a number of our shareholders, 70 percent of whom are 55 and older. You and your family members must fill out affidavits in order to transfer shares. To get a copy of these forms, visit the KIC website at www.kikiktagruk.com/shareholders/benefits/. Fax completed forms to 907-442-2165, attn: Shareholder Relations Coordinator.
We look forward to 2018 and concentrating onthe Corporation’s profitability. The KIC Board of Directors strives to enhance the benefits to our shareholders. We will be working hard with our management team for long-term stability and growth.
Wishing you joy and prosperity in the new year!
KIC Board Chair