Sealaska directors approved a fall distribution to shareholders totaling $10.5 million. Total distributions in 2016 to Sealaska shareholders are $26.4 million. The record date is Friday, November 4, 2016. The distribution date is Wednesday, November 23, 2016.
The distribution payment will occur in late November, earlier than in years past. Sealaska’s short-term financial priority is to be profitable before investment and ANCSA Section7(i) income. As we approach accomplishing this priority, we are also driving strategic initiatives that will make Sealaska a stronger, more resilient company.
“Sealaska is committed to providing consistent distributions to shareholders,” said Sealaska Chair Joe Nelson. “The distributions that are paid twice a year are only one part of Sealaska benefits or a means to measure the corporation’s success. Sealaska revenues also support yearly commitments to culture through the annual contribution to Sealaska Heritage Institute, investments in shareholder and descendant higher education through our scholarship program and employment opportunities. The hard work of the board and management during the last few years is helping achieve consistent financial success.”
“Sealaska operations will show strong improvement in 2016, which is significant in a year where we face lower ANCSA Section 7(i) income coming in from other Alaska Native corporations,” said Sealaska President and CEO Anthony Mallott. “The ability for operational income to offset income changes we see from Section 7(i) and investment income is a key component of our strategic plan. Continued operational income growth is our priority and it will lead to stable and growing dividends.”
Typically, Sealaska issues a distribution payment in early December. This year, we are issuing the payment right before Thanksgiving. The distribution date is Wednesday, November 23, 2016.
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