FARMINGTON, NM – Another dividend payment of $333,333.34 was issued to the Navajo Nation by Navajo Agricultural Products Industry (“NAPI”) on March 22. The payment was authorized and approved by NAPI’s Board of Directors on August 29, 2023, with Resolution BDAU-1-23, and part of a total amount of $2 million.
The first 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, 2023. Thereafter, a payment of $333,333.34 was issued on December 15, 2023. The most current payment has brought the total amount to $1,666.666.68. By the next quarter, the final payment will be issued to total the $2 million payment. The dividend payments are paid from NAPI’s Operating Account as a partial repayment of the Capital Contribution from the Navajo Nation.
During the presentation of the initial payment, RDC Vice-Chair Casey Allen Johnson (Cameron, Coalmine Canyon, Birdsprings, Leupp, Tolani Lake) said it was “encouraging to know that enterprises like NAPI are giving back to the Nation although they aren’t required to.” NAPI’s leadership took note and encourages other Navajo enterprises to follow the company mission of “creating value for our people” by contributing back to the Navajo Nation.
Per the Navajo Nation Council, the funds will be delivered to the Navajo Nation Office of the Controller and applied to this 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”).
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