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CIRI President and CEO Carl Marrs announced CIRI's net income for 1998 increased for the seventh consecutive year. The corporation's net income totaled $50.2 million for the year ended December 31, 1998, or $80.01 per share, a 12 percent increase over 1997's net income of $44.9 million.
"We had a tremendous year in 1998, which produced the largest amount of net income when compared to any of the previous years," said Marrs.
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A significant portion of CIRI's income was derived from its communications division, while the company also saw growth of net income from its real estate division. At year-end, the book value of the company's assets totaled $673 million.
With the 1998 audit complete, the CIRI Board of Directors has increased shareholder dividends for 1999 by declaring a first quarter dividend of $5.50 per share. Projecting this increased first quarter dividend across the year, CIRI expects 1999 dividends to increase over 1998 dividends by approximately 13 percent.
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At a celebration held February 13, U.S. Sen. Ted Stevens (Alaska) and CIRI were honored by Southcentral Foundation for their support of the Anchorage Native Primary Care Center.
Stevens was lauded for his tireless support of medical care for Alaska Natives. Stevens was responsible for securing funding for the new Alaska Native Medical Center and has been
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instrumental in garnering Native management of the Alaska Native Medical Center as well as the Anchorage Native Primary Care Center.
CIRI was commended for building the Anchorage Native Primary Care Center, which provides primary care services for Alaska Natives and Native Americans in the Anchorage area.
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