This announcement follows Chugach’s successful carbon credit sales in 2020. Chugach has been the leader in bringing the California carbon credit market to Alaska and has worked hard to provide these benefits to the shareholders.
This dividend will be paid through the Chugach Natives Trust, allowing for tax-free benefits to shareholders. This Special Dividend is in addition to the November Regular Dividend of $10 per share for the second quarter. This dividend will be paid on November 20, 2020.
The diversity of Chugach’s operations and assets – including our lands and resource development projects – minimizes the risk during volatile times and allows us to preserve shareholder value and benefits. Our diversified portfolio, conservative financial management and prudent leadership build the financial resilience that allows us to weather potential impacts. Although Chugach’s consolidated financial performance will be impacted by COVID-19 in 2020, we anticipate remaining on target with budget and 2019-2023 Five-Year Plan operating profit goals.
As a reminder, we have a page on the Chugach website dedicated to COVID-19 information and prevention measures (https://www.chugach.com/covid-19-informational-site/), and we encourage you to visit this resource and our Facebook page for reliable news and updates.
I am proud and inspired by the way our people have united to face the challenges of these extraordinary times with flexibility, strength, courage – and a caring heart. As we near the holiday season, I wish you and your families health and happiness. I am grateful to each of you for being a part of the Chugach community.
Chairman of the Board
Interim President & CEO