FOR IMMEDIATE RELEASE
FARMINGTON, NM – Navajo Agricultural Products Industry (NAPI) presented the Navajo Nation with an immediate $1 million dividend payment during a Resources and Development Committee (RDC) regular meeting on November 4.
NAPI’s Board of Directors authorized and approved the payment with Resolution No. BDS-13-24 on September 27. To date, NAPI has provided a total dividend payment of $7,500,000.01 to the Navajo Nation.
Prior to the payment presentation, the NAPI Board of Directors provided an audit report for NAPI’s Fiscal Year 2024 to the RDC at NAPI’s Headquarters.
“The audit report went well,” said Lawrence Platero, NAPI Board of Directors Chair. “The RDC were satisfied with the results of no findings and unmodified audit.”
NAPI Chair Platero noted the board’s appreciation for the financial department and their efforts to track all expenditure throughout the year. “We are proud to have an organization, a group of people working for NAPI, who are able to gain a profit,” said NAPI Chair Platero.
The $1 million dividend payment will be made from NAPI’s operating account as a partial repayment of the Capital Contribution from the Navajo Nation. NAPI recommended that the Navajo Nation utilize the funds toward its best discretion or other Navajo Nation priorities.
“I am truly honored to know some of the staff at NAPI,” said Delegate Brenda Jesus, RDC Chair. “I would like to know the whole staff, those who are really behind the scenes.”
RDC Chair Jesus continued with giving credit to the NAPI employees for their commitment and dedication to gain a profit for the ag industry’s FY 2024. “It’s because of the employees, NAPI was able to give the dividend return to the Navajo Nation.”
NAPI is a wholly owned enterprise of the Navajo Nation responsible for 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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