A combination of surging metal prices and federal contracts boosted NANA to another year of record income in 2010, allowing it to provide millions in shareholder dividends while boosting endowments for elders and students, according to the company's annual report.
The report says:
• Earnings for NANA and dozens of subsidiaries reached a record $41 million.
• Total revenue rose to $1.6 billion in revenues, another record and nearly double 2006 levels.
• Shareholder equity rose to $261.4 million, an increase of 7.5 percent from 2009.
The Native regional company's 12,500-plus shareholders can partly thank the world's largest zinc mine for the company's success.
The Red Dog deposit, which also produces lead on NANA lands, has pumped $596 million in proceeds into the company for more than 20 years.
Over that period, it's also improved budgets at other Native regional corporations by $341 million thanks to a federal sharing requirement.