The contracting company, which also employs 169 staff of which 106 are in the Waitaki district, recently presented its annual report to its sole owner, the Waitaki District Council.
The company turned in an after-tax deficit of $311,149 for the last financial year, but that was after it paid more than $1.4 million to the council and more than $134,000 for donations and sponsorships.
Whitestone's chairman, John Walker, told the council it would be paying a further dividend of $50,000 for the 2008-09 financial year.
Mr Walker said that Whitestone had paid the council and contributed in sponsorship to the community $2.6 million over the past 10 years.
Since its formation in 1991, when it was turned from a council works department into a council-owned company, it had paid out more than $4 million with the announcement of the extra dividend.
Waitaki Mayor Alex Familton said Whitestone's result was "very encouraging" considering the current "very trying" economic conditions.
In 10 years, it has paid $2.6 million to the community and council so we know we are on a winner," he said.
