Sealaska directors have approved a December distribution to shareholders to be paid on or about December 5, 2014.
Distribution and Stock Type
Type of Stock Per Share $ Amount Per 100 Shares
Non-Elder Urban and At-Large Shareholders $8.99 $899
Elder Urban and At-Large Shareholders $9.78 $978
Non-Elder Village and Leftout Shareholders $0.79 $79
Elder Village and Leftout Shareholder $1.58 $158
Descendant Shareholders $0.79 $79
The December distribution will consist of payments from the Marjorie V. Young (MVY) Shareholder Permanent Fund and a payment from the ANCSA Section 7(i) revenue pool. The MVY shareholder permanent fund is fulfilling its promise as a stable source of annual distributions to shareholders in perpetuity.
2014 has been a year of change and new focus as the corporation establishes its path to profitability. "As projected, the December 2014 distribution does not include a payment from operations. It does include payments from the MVY and ANCSA Section 7(i),” said Joseph Nelson, Sealaska board chair.
“Though this was fully anticipated, no one is satisfied with these results. However, it is important to note 2014 is a significant turnaround from 2013. We are making substantial strides toward building a corporation that is both profitable and honors our Native values. Sealaska can and will do better moving forward,” added Nelson. He noted that the corporation’s contributions to Sealaska Heritage Institute will not be impacted and that working to uphold, honor and preserve culture remains of utmost importance.
The last 12 months have brought much change to Sealaska, including new corporate and board leadership as well as significant restructuring and streamlining of operations.
“We are moving forward with an acquisition process that will bring new net income to Sealaska," said President and CEO Anthony Mallott. "However, the income and revenue from the new acquisition will not provide material financial benefit until 2015/2016. This is important for all of us to understand. While today will be remembered as a time of transition and change, future generations will know we took the necessary actions to ensure long-term benefit for Tlingit, Haida and Tsimshian people.”
The distribution to shareholders and direct deposits will be made on the same day.