CIRI declares third quarter dividend

Posted: Friday, August 03, 2001

ANCHORAGE (AP) -- Cook Inlet Region Inc. declared a third quarter dividend Thursday of $8.38 a share.

The CIRI quarterly dividend will be distributed Sept. 28 to the Native corporation's approximately 7,000 shareholders.

CIRI is one of Alaska's most successful Native corporations, with investments in telecommunications, construction, real estate and tourism.

The corporation posted record earnings for the year 2000. Profits rose to $102 million last year -- nearly double the $57 million reported in 1999.

The big jump in profits was due largely to a huge windfall from the company's investments in wireless telecommunications companies, including Voicestream and BellSouth. That windfall resulted in a typical shareholder with a hundred shares receiving $65,000.

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