In 1951, the White Pass and Yukon Corporation Ltd., a new holding company, was incorporated to acquire the three railway companies comprising the WP&YR from the White Pass and Yukon Company, Ltd., which was in liquidation. The railway was financially restructured. While most other narrow-gauge systems in North America were closing around this time, the WP&YR remained open. In 1959, the first dividend to stockholders was paid, at 10 cents per share.