|Cherokee Nation Businesses reports record profits for March|
The Cherokee Nation Businesses board of directors held its regular monthly board meeting Monday, announcing record profits for the month of March.
CNB’s consolidated net income for both gaming and non-gaming entities increased 16 percent over the previous year, making March the most profitable month in the history of the company.
“We’re pleased to announce our businesses are healthy and growing,” said Bill John Baker, Principal Chief of the Cherokee Nation. “Whether it’s creating job opportunities or funding services like housing and health care, every dollar our companies make is a dollar that helps improve the lives of Cherokee people.”
In addition to posting record profits, CNB also achieved its highest number of new Cherokee hires ever. Ninety-eight percent of new employees hired in March were Cherokee citizens.
“Chief Baker has asked this board to ensure that our businesses are run as efficiently as possible and in a way that has the greatest positive impact on the Cherokee people,” said Sam Hart, chairman of the CNB board of directors. “These employment and net income figures certainly reflect that, and we’re confident they will continue to improve as time goes on.”
Also at the meeting, Chairman Hart announced the authorization of a special dividend payment of $1.5 million from CNB to the Cherokee Nation, derived from the sale of CNB’s corporate plane earlier this month. That special dividend payment is specifically earmarked for contract health services for Cherokee citizens.
“It’s extremely rewarding for my fellow board members and I to be able to make the kinds of decisions that will directly benefit Cherokee citizens,” Hart said.
Starting in May, the regularly scheduled meetings of the CNB board of directors will take place the last Wednesday of each month.