Sealaska launches new shareholder benefit initiatives due to recent successful operations and the board of directors announces a spring distribution to shareholders.
The Sealaska board approved adding more to scholarship endowment. In addition the board is exploring options to provide burial assistance to shareholders.
“Today, we are proud to announce that the board is taking significant action in fulfilling Sealaska’s purpose of ‘strengthening our people, culture and homelands,’” said Joe Nelson, Chairman of Sealaska. “One of our values is Haa Shuká, which is our commitment to honor and respect equally our ancestors, our current generation and future generations to come.”
“Sealaska distributions are only one way we provide benefit to our shareholders. Today, management has been tasked to build on our existing educational priorities with a restructuring of our scholarship program and a significant increase in our endowment. Higher education costs are soaring, our endowment needs to increase so we can continue our commitment to the next generation,” said Anthony Mallott, Sealaska President and CEO.
These new initiatives are at the beginning stages of due diligence and analysis. Sealaska board and management will work together in the coming months to create strategies for future implementation of these directives.
“Five years ago, Sealaska made a historical decision to align operations with core Native Values, leading to investments in the seafood industry. Today, we are experiencing the positive effects of focusing on operational performance and profitability. The success of our businesses allows Sealaska to provide distributions as well as meaningful benefits to shareholders,” said Terry Downes, Sealaska Chief Operating Officer.
“This financial turnaround has been nothing short of incredible. Today, as we close the books on a very profitable year, rather than pausing to celebrate, we are reinvesting in our people, culture and homelands,” said Joe Nelson, Sealaska Chairman.
Sealaska Directors approved a spring distribution payment to shareholders, which will be deposited into accounts on April 13, 2018. Shareholders receiving a mailed check should expect to see it soon after. The semi-annual distribution is made up of payments from operational income, earnings from the Permanent Fund and income from ANSCA Section 7(i).
- The 2018 spring distribution total is $23.1 million
- In 2017, Sealaska distributed a total of $22.5 million in shareholder payments
“The board is excited to see dividends and our total distributions increasing, while also recognizing that Direct payments to shareholders are not the only way we impact shareholders or communities,” said Nelson. “Sealaska commits $1.5 million each year to preserve and restore native Alaskan culture through ongoing support to Sealaska Heritage Institute. During Celebration years, we contribute another $125,000 to support the biennial event. We also provide $500,000 in annual scholarships for more than 300 students. Earlier this year, Sealaska made its final payment in a $1 million commitment to the Healing Hand Foundation. The board and management are proud that Sealaska is financially strong and able to make consistent and meaningful contributions to efforts our shareholders care about.”
Sealaska’s businesses continue to drive the company’s improvement, and all three operational groups were profitable and expect continued growth. Total improvement in sustainable business income over the last five years is greater than $22 million and 2017 net income results will be one of Sealaska’s highest in its history.
“Sealaska expects milestone success in our businesses to continue, and we are proud that we are growing businesses with ties to our Native values,” said Mallott.
Investing Sealaska’s wealth for the benefit of shareholders and communities is a core Native value and Sealaska’s purpose. The board is dedicated to assuring that Sealaska’s financial success will lead to stable and growing dividends and increased commitments to programs and services that our shareholders value.
- Friday, March 30, 2018 | record date, the last day to make changes to stock, gift stock, enroll, process estates or transfer shares
- Monday, April 9, 2018 | last day to change shareholder banking or mailing information
- Friday, April 13, 2018 | distribution occurs
FREQUENTLY ASKED QUESTIONS
Q: Why do Urban and At-Large Shareholders receive a bigger payment?
A: Urban and At-Large shareholders receive a per-share ANCSA Section 7(i) payment directly from Sealaska while the per share amount for all other shareholders are paid to Village Corporations. Village Corporations may retain or distribute, by dividend, to its Shareholders the per share payment it receives from Sealaska.
Q: How much will my spring distribution amount be?
A: If you are a registered with MySealaska, you can view a “pending distribution amount” on the day we make the announcement. This new feature of MySealaska.com is a courtesy to shareholders and helps answer one of the most common questions we receive in the form of a phone call.