The Sealaska board of directors has declared a distribution to be paid to tribal member shareholders on April 11, 2014. The total payment to shareholders and village corporations is $11.8 million.
“Sealaska is committed to providing a steady source of revenue to shareholders, from long-term and stable investments in conjunction with performance of the company,” said Sealaska’s President and CEO Chris McNeil. “We’ve grown our Marjorie V. Young Shareholder Permanent Fund to $100 million. Sealaska is in the second year of implementing a strategic plan that includes restructuring Sealaska operations. The permanent fund is fulfilling its promise that it is a continual source of annual distributions to tribal member shareholders in perpetuity.”
Sealaska has nearly 21,600 shareholders, the highest number among the Alaska Native regional corporations. The total distributions made by Sealaska since inception to shareholders and village corporations is $550 million.
“We are very proud that we give to our Elders an additional payment during a distribution,” stated Rosita Worl, Sealaska board vice chair. “This is the reflection of our shareholders’ voice. In 2007, shareholders included our descendants and those left out of enrollment. And just as important, in 2009 shareholders approved additional stock to Elders. Our core Native value of Haa Shuká is reflected in the honor we pay to our children and our ancestors.”
The summary of payment per share based on class of stock is as follows:
Type of stock
Per share amount
Amount per 100 shares
Urban & At Large
Urban or At Large with Elder Stock
7.21 for Urban/At Large Stock .57 for Elder Stock
$721.00 + $57.00= $778.00
Village, Descendant, Leftout and Elder Stock
Village shareholder with Elder stock
.57 for Village stock .57 for Elder stock
$57.00 + $57.00 = $114
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 2014 April dividend from the Permanent Fund will be $0.57 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 from operations is $0.00 per share.
In addition to operations and the Marjorie V. Young Permanent Fund dividends, a $6.64 per share ANCSA Section 7(i) revenue sharing payment will be made.
7(i) payments for Village shareholders get paid directly to the Village Corporation.
The Record Date for the distribution is April 3, 2014.
The direct deposit service allows shareholders to receive their distribution faster. Shareholders can choose to have their distributions deposited directly to their bank account and will get the funds sooner than those who don't sign up for direct deposit.
As an alternative to filling out a direct deposit form and mailing it to Sealaska, please consider MySealaska. MySealaska is the easiest way to sign up for direct deposit using the online tool. Go to MySealaska and sign up for an account. You can enroll for direct deposit, maintain your contact information, and even track distribution payments through the tool.
To opt-in for direct deposit, complete a Direct Deposit form and return it to Sealaska. Please include a voided check or deposit slip from your checking or savings account with any bank, savings and loan, or credit union. The electronic deposit will be made to that account. Mail your completed direct deposit authorization form to:
Sealaska Corporation Shareholder Records Attn: Direct Deposit One Sealaska Plaza, Suite 400 Juneau, AK 99801-1276
Important Information About Distributions Shareholders are encouraged to keep Sealaska informed of their most recent contact information. Prior to each distribution, there is a date on which Sealaska must close all shareholder records to further changes, as required by corporate policy. This is called a Record Date, and it generally falls 3-4 weeks before a distribution. Shareholder information may not change after the Record Date until the distribution is completed.
Typical reasons payments to shareholders are delayed:
Please contact the Shareholder Relations team with changes or questions at 800.848.5921 or firstname.lastname@example.org. If you are in Juneau, call 586.9283.
How Distributions Are Calculated Sealaska shareholders receive distributions from three sources: operations, the Marjorie V. YoungPermanent Fund and ANCSA Section 7(i) revenue sharing.
Sealaska policy states that 35 percent of the corporation’s consolidated net earnings averaged over five years, minus earnings associated with the Marjorie V. Young Permanent Fund, may be paid annually in two installments.
Sealaska and its subsidiaries strive to achieve strong economic performance each year. Some earnings from Sealaska’s operations are included as a portion of shareholder distributions, according to Sealaska’s Dividend Policy.
All classes of shareholders receive a payment from this source, when a payment is so authorized by the board of directors.
Marjorie V. Young Permanent Fund
The Sealaska board of directors unanimously approved naming the Sealaska Permanent Fund after long-serving director Marge Young in 2009. The fund is formally known as the Marjorie V. Young Shareholder Permanent Fund (the Fund).
A percent of market value from the Fund will be included in distributions made to shareholders, according to the Dividend Policy.
Sealaska's Permanent Fund continues to be a source of strength for our corporation, providing shareholders with reliable dividends since 1987.
ANCSA Section 7(i)/7(j)
The 12 regional corporations created under ANCSA share a portion of their natural resource revenues with each other, according to the provisions of the ANCSA Section 7(i) revenue sharing agreement. Sealaska receives a portion of its revenue from this source of shared earnings.
Sealaska distributes monies to Urban and At-Large (Class B and C) shareholders from funds Sealaska receives under ANCSA Section 7(i). The payment to shareholders from Section 7(i) monies is called a Section 7(j) payment.
Village (Class A) shareholders do not receive an ANCSA Section 7(j) payment directly from Sealaska—under ANCSA, Sealaska is required to make Section 7(j) payments directly to each of the 10 Southeast village corporations. It is up to the village corporations to decide how to use their ANCSA Section 7(j) payments.
Descendant and Leftout (Class D and L) shareholders do not receive an ANCSA Section 7(j) payment from Sealaska.