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Sealaska Tribal Member Shareholder December Distribution Announced


 December  Per Share Per 100 shares
 Non-Elder Urban and At-Large shareholders $ 7.14 $ 714
 Elder Urban and At-Large shareholders  $ 8.16 $ 816
 Non-Elder Village and Leftout shareholders $ 1.02 $ 102
 Elder Village and Leftout shareholders  $ 2.04 $ 204
 Descendant shareholders  
 $ 1.02 $ 102

The Sealaska board of directors approved a distribution to tribal member shareholders at its October 28, 2011 meeting. The distribution will be direct deposited or mailed on approximately December 8, 2011.

“The Southeast economy will be infused with millions of dollars with this December distribution,” said Sealaska Chair Albert Kookesh. “In part because of Sealaska, but also because Sealaska shareholders continue to live in their hometowns in the region. The board and I continue to support those lifestyles.”

Sealaska’s dividend policy guides the board of directors in evaluating dividend distributions made from the Marjorie V. Young (MVY) Shareholder Permanent Fund and operations:
  • Dividends from the MVY Shareholder Permanent Fund will be based on a percent of market value (POMV) of the fund balance. Based on the POMV calculation the 2011 December dividend will be $0.56 per share.
  • Sealaska policy states that 35% of the corporation's consolidated net earnings averaged over five years, minus earnings associated with the MVY Shareholder Permanent Fund may be paid annually in two installments. The distribution includes an operations divided of $0.46 per share.
  • In addition to operations and permanent fund dividends, a $6.12 per share ANCSA Section 7(i) revenue sharing payment will be made.
The December 2011 distribution is based on earnings from operations and the MVY Shareholder Permanent Fund as well as ANCSA Section 7(j) payments. The total distribution amount for the December distribution totals approximately $11.9 million. Combined with the spring distribution, distributions by Sealaska in 2011 total $23.9 million.

The record date of this distribution is November 23, 2011.

To view full press release, please click here.

 

 
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