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Alaska’s First National bank declares special cash dividend of $3.20 per share

Alaska's First National bank declares special cash dividend of $3.20 per share
Jordan Major

On September 30, 2021, the Board of Directors of First National Bank Alaska (OTCQX: FBAK) announced a special cash dividend of $3.20 per share, as indicated in a press release from the bank published on October 5, 2021.

Notably, the shares will be payable on November 15, 2021, to shareholders who had their shares in the company on November 1, 2021.

Similarly, the dividend for the third quarter of 2021 was a cash dividend of $3.20 per share, payable on September 15, 2021, to shareholders of record as of September 1, 2021.

Q2 unaudited results

It’s worth mentioning that on July 30, 2021, the bank announced unaudited results for the second quarter of 2021. Since the results were not particularly impressive, Board Chair and CEO Betsy Lawer stated: 

“The bank continues to monitor the changing landscape of the COVID-19 pandemic to assure protocols are in place to maintain the health and safety of our employees and customers.” 

By way of explanation, the unaudited net income for the second quarter of 2021 was $13.7 million, or $4.33 per share. In 2020, the company earned $14.6 million in net income or $4.60 per share for the same period. 

Conversely, unaudited net income was $27.7 million or $8.74 per share, as opposed to $28.7 million or $9.07 per share in 2020 for the same time.

Formed in 1922 and owned and managed by Alaskans, First National Bank of Anchorage proudly serves the financial requirements of Alaskans via ATMs and branches in 18 towns across the state, in addition to offering banking services to suit their needs throughout the country and around the globe.

For the sixth year in a row, readers of Alaska Business magazine chose the bank as the “Best of Alaska Business” in the Best Place to Work category, among many other awards.


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