Sealaska Announces December Distribution Totaling $11.7 million

The Sealaska board of directors has declared a distribution to be paid to tribal member shareholders starting December 6, 2013. Shareholders signed up with Sealaska for direct deposit will receive payment on December 6, with checks to follow shortly in the mail. Depending on type of stock ownership, shareholders will receive from $0.71 to $7.84 per share. The average share ownership is 100 shares.

"Distributions strengthen our communities through this economic infusion, some $11.7 million this distribution,” said Sealaska Board Chair Albert Kookesh. “Since inception, Sealaska has paid more than a half billion dollars total to shareholders and village corporations.”

“Sealaska’s purpose is to strengthen our people, culture and homelands,” said Sealaska President & CEO Chris E. McNeil Jr. “Revenue sharing between regional corporations contributes to advancing our purpose. The ANCSA Section 7(i) agreement mandates sharing 70 percent of resource development revenue with all regional corporations on a per capita basis. Sealaska has paid more than $317 million into that pool from our own natural resource management, and now we’re the recipient of resource development from other regions.”

The December distribution by the numbers:

 

Type of Stock Per Share $ Amount Per 100 Shares
Urban and At-Large Shareholders 7.13 $713.00
Urban or At-Large Shareholders with Elder Stock 7.13 for Urban/At Large Stock
.71 for Elder Stock
$713.00+$71.00=$784.00
Village, Descendant and Leftout Shareholders .71 $71.00
Village Shareholders with Elder Stock .71 for village stock
.71 for elder stock
$71.00+$71.00=$142.00

 

The December distribution will consist of dividends from operations and the Marjorie V. Young Shareholder Permanent Fund (MVY) and a payment from ANCSA Section 7(i) revenue pool, according to Anthony Mallott, Sealaska treasurer and chief investment officer. “This distribution consists of dividends of $0.14 per share from operations, $0.57 per share from MVY and a 7(i) payment of $6.42 per share,” said Mallott.

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