The Sealaska board of directors has declared a distribution to be paid to tribal member shareholders starting December 6, 2013. Shareholders signed up with Sealaska for direct deposit will receive payment on December 6, with checks to follow shortly in the mail. Depending on type of stock ownership, shareholders will receive from $0.71 to $7.84 per share. The average share ownership is 100 shares.
“Distributions strengthen our communities through this economic infusion, some $11.7 million this distribution,” said Sealaska Board Chair Albert Kookesh. “Since inception, Sealaska has paid more than a half billion dollars total to shareholders and village corporations.”
“Sealaska’s purpose is to strengthen our people, culture and homelands,” said Sealaska President & CEO Chris E. McNeil Jr. “Revenue sharing between regional corporations contributes to advancing our purpose. The ANCSA Section 7(i) agreement mandates sharing 70 percent of resource development revenue with all regional corporations on a per capita basis. Sealaska has paid more than $317 million into that pool from our own natural resource management, and now we’re the recipient of resource development from other regions.”
The December distribution by the numbers:
$ Amount Per 100 Shares
Urban and At-Large Shareholders
Elder Urban and At-Large Shareholders
Village, Descendant and Leftout Shareholders
Elder Village and Elder Leftout Shareholders
The December distribution will consist of dividends from operations and the Marjorie V. Young Shareholder Permanent Fund (MVY) and a payment from ANCSA Section 7(i) revenue pool, according to Anthony Mallott, Sealaska treasurer and chief investment officer. “This distribution consists of dividends of $0.14 per share from operations, $0.57 per share from MVY and a 7(i) payment of $6.42 per share,” said Mallott.
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 email 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. Young Permanent 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.