Mining companies contribute to the economy through the direct royalties, taxes and charitable giving they provide to governments and communities. In June, Navajo Transitional Energy Company (NTEC) presented a historic dividend check for $5.5 million to the Navajo Nation. This is the largest annual dividend in the history of the Navajo Nation from any Navajo Nation owned enterprise.
“We’re proud to present this historic dividend payment, which stands as a tangible reflection of NTEC’s financial strength and our unwavering commitment to the Navajo Nation and its people,” said Tim McLaughlin, Chairman of the NTEC Board. “NTEC was created to promote the economic sovereignty of the Navajo Nation. By utilizing our national footprint to deliver this record dividend to our sole member, we are directly fueling the financial, physical, and cultural well-being of the Navajo people and proving the immense power of tribal self-determination.”
NTEC contributes more than $120 million annually to the Navajo Nation and is a vital economic anchor for the Four Corners region. Of that amount, $69 million goes directly to the Navajo Nation and can be used to support core government services, community investments, educational programs, and critical infrastructure projects.