FOR IMMEDIATE RELEASE
December 15, 2023
FARMINGTON, NM – The first of three dividend payments in the amount of $333,333.34 will be issued to the Navajo Nation from the Navajo Agricultural Products Industry (“NAPI”) on December 15. The dividend payments are to be paid in the last three quarters of the Fiscal Year 2024 from NAPI’s Operating Account as a partial repayment of the Capital Contribution from the Navajo Nation.
On August 29, NAPI’s Board of Directors authorized and approved Resolution BDAU-1-23 to provide payments totaling $2 million. An immediate payment of $1 million was presented to the 25th Navajo Nation Council’s Resources and Development Committee (“RDC”) during an RDC regular meeting on October 25. The RDC is NAPI’s oversight. Prior to presenting the check, NAPI delivered their Fiscal Year 2023 Audit Report in executive session.
“The payment to the Navajo Nation is made possible by the work of our employees at NAPI,” says Delane Atcitty, NAPI Board Chairperson. “Every season, our employees produce quality Navajo Pride products. In return, we are able to give back to the Navajo people.”
The approved resolution states that NAPI’s Board of Directors recommends the Navajo Nation to utilize the funds toward its “best discretion or other Navajo Nation priorities.” RDC Vice-Chair Casey Allen Johnson (Cameron, Coalmine Canyon, Birdsprings, Leupp, Tolani Lake) said the funding would, “go into the General Fund to support the many services that the Nation provides to communities.” He added, “It’s encouraging to know that enterprises like NAPI are giving back to the Nation although they aren’t required to.”
Per the Navajo Nation Council, the funds will be delivered to the Navajo Nation Office of the Controller and applied to next year’s comprehensive budget, which funds direct services and other resources that benefit the Navajo people and communities.
NAPI is a wholly owned enterprise of the Navajo Nation charged with operating and managing a commercial farm on land held in trust by the United States for the Navajo Nation under legislation authorizing the Navajo Indian Irrigation Project (“NIIP”). For more information in regard to NAPI, visit navajopride.com
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