Inuvialuit to receive dividends

IQALUIT — The board of directors of the Inuvialuit Regional Corporation plans to turn back some of its record-breaking profits to the region’s 3,173 beneficiaries.

In 2000, the IRC reported a consolidated profit of $52.5 million, mainly drawn from royalties from new petroleum development.

Each enrolled Inuvialuit beneficiary will receive $850.49.

“The distribution to our Inuvialuit beneficiaries will be the largest to date. We look forward to a continuation of this financial success in the years ahead,” said Nellie Cournoyea, IRC’s chair and chief executive officer.