Goldbelt, Inc. reports 2020 election results, record profitability

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Saturday, July 11th, 2020 3:20pm

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Juneau, Alaska (KINY) - The 46th Annual Meeting of Goldbelt shareholders was held on July 11 via webcast from Juneau.

While traditionally the corporation has held an in-person event, the corporation chose to hold this year’s annual meeting virtually in response to the COVID-19 pandemic and in order to ensure the safety of shareholders, staff, and guests.

At the meeting, three directors concluded their terms: Andrea Cadiente-Laiti, Lori Grant, and Leilani Wilson Walkush. Director Cadiente-Laiti chose not to seek re-election after serving for 21 years.

Those Directors elected Saturday will each serve a three-year term that will expire in 2023.

Craig Kahklen will be joining the Goldbelt Board of Directors to serve his first term, while Lori Grant and Leilani Wilson Walkush will continue serving in their third and second terms, respectively. Goldbelt also announced record performance for the 2019 financial year.

“On behalf of the Board and Management, we are incredibly proud of everything that Goldbelt accomplished last year, and all the goals that we continue to reach in the current year,” said Goldbelt Board Chair Todd Antioquia. “The board remains committed to making strategic and informed decisions to successfully guide the corporation despite the challenges and changing landscape presented by the current climate. We warmly welcome our new board members and look forward to working closely with them in the coming days.”

All three elected directors were sworn in during the Annual Meeting, with their terms beginning effective immediately. Eleven shareholders ran for the board of directors in 2020. 74.7% of voting shares were represented during this year’s election, with a quorum reached on June 5, 2020.

Continuing directors include William Andrews, Todd Antioquia, Richard A. Beasley, Benjamin Coronell, Katherine Eldemar, and Lisa-Marie Ikonomov. Immediately following the Annual Meeting, the board met for a reorganization meeting. Todd Antioquia will serve as Chair, Leilani Wilson Walkush as Vice-Chair, Richard A. Beasley as Treasurer, and Lisa-Marie Ikonomov as Corporate Secretary.

“We are thankful to each and every shareholder for their participation, engagement, and continued support of Goldbelt and its business,” said Chairman Antioquia. “We look forward to continuing to serve you with diligence, transparency, and respect for our traditional values.”

Goldbelt management reported outstanding financial performance for 2019 during the meeting, with total revenue exceeding $240 million and $10.22 million in net income.

Shareholders received a dividend of $5.50/share, the largest dividend distributed from Goldbelt profits in history.

“2019 represented an incredible year for Goldbelt,” said McHugh Pierre, Goldbelt President & CEO. “Our financial performance was record-breaking, an accomplishment that was made possible through the hard work and cooperation of our board, leadership team, and employees across all Goldbelt businesses. Focusing on high-skill, high-margin work has allowed Goldbelt to grow, driving business that is both profitable and meets our model and vision for the future.”

 

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