The Arctic Slope Regional Corp. says its board of directors has approved a plan to distribute shareholder dividends quarterly instead of twice a year as it has for almost two decades.

The Barrow-based Alaska Native corporation says the quarterly distributions will begin in March with dividend payments of $12.50 per share.

The average shareholder owns 100 shares of stock, so the March payout will translate to $1,250 distributions.

The other distributions are scheduled to be paid in July, September and December.

Last month, shareholders received $10,000 distributions, based on $40 per share, and another $60 per share in a special dividend added by the board after a healthy business year.

The corporation has about 11,000 shareholders.