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Sealaska Board of Directors Declare December Distribution

The Sealaska Board of Directors approved a distribution to tribal member shareholders at its October 29, 2010 meeting.  The distribution will be direct deposited or mailed on approximately December 3, 2010.
   
“The December distribution approved by the board will infuse millions into the Southeast economy,” said Sealaska Chair Albert Kookesh.  “Sealaska continues to grow as a company, but we also carefully govern our assets to ensure sustainability,” said Kookesh.
   
Sealaska’s dividend policy guides the board of directors in evaluating dividends made from the Marjorie V. Young Permanent Fund and operations:

  • Dividends from the Marjorie V. Young Permanent Fund will be based on a percent of market value (POMV) of the fund balance.  Based on the POMV calculation the 2010 December dividend will be $0.40 per share dividend.
  • Sealaska policy states that 35% of the corporations consolidated net earnings averaged over five years, minus earnings associated with the Marjorie V. Young Permanent Fund may be paid annually in two installments. The distribution includes a operations dividend of $0.80 per share.
  • In addition to operations and permanent fund dividends a $4.57 per share7(i) revenue sharing payment will be made.

The December 2010 distribution is based on earnings from operations and the Marjorie V. Young Shareholder Permanent Fund as well as ANCSA Section 7(j) payments.  The total distribution amount for the December distribution totals approximately $9.8 million.  Combined with the spring distribution, total distributions by Sealaska in 2010 totals $17.68 million.

   Per Share
 per 100 shares
 Non-Elder Urban &
 At-Large Shareholders
 $ 5.77 $ 577
 Elder Urban &
 At-Large Shareholders
 $ 6.97 $ 697
 Non-Elder Village and Left-out
 Shareholders
 $ 1.20 
 $ 120 
 Elder Village and Left-out
 Shareholders
 $ 2.40 $ 240
 Descendant Shareholders 
 $ 1.20
 $ 120


The record date of this distribution is November 19, 2010.

For full press release, click here

 

 
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