Sealaska directors approved a December distribution to tribal member shareholders to be paid on or about December 6, 2012. The distribution to shareholders and direct deposits will be made on the same day. The December distribution totals approximately $12,819,277 to shareholders and Southeast village corporations.
Distribution & Stock type:
Urban and At-Large Stock
Life Estate Stock: Left-out, Descendant, Elder
Dividends from the Marjorie V. Young Permanent Fund are based on a percent of market value (POMV) of the fund balance. Based on the POMV calculation, the 2012 December dividend will be $0.53 per share.
Sealaska policy states that 35 percent of the corporation 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 an operations dividend of $0.43 per share.
In addition to operations and the Marjorie V. Young Permanent Fund dividends, a $6.76 per share ANCSA Section 7(i) revenue sharing payment will be made.
"Sealaska manages its investments in alignment with our core Native values so that we can fulfill our purpose of strengthening our people, culture and communities," said Sealaska Board Chair Albert Kookesh.
"We are announcing a stable distribution to our tribal member shareholders in spite of the Great Recession," said Chris E. McNeil Jr., Sealaska president and CEO. "As the effects of the recession roll out of percent of market value averages and as we strengthen operations, we plan to see growth in future distributions."