Distribution Dates The Sealaska board of directors at the regular March 29, 2013 meeting declared a spring distribution to tribal member shareholders to be paid on or about April 12, 2013. The April 2013 distribution represents more than $12 million to tribal member shareholders and Southeast village corporations. Combined with the December 2012 distribution, Sealaska will pay out more than $24 million to shareholders for fiscal year 2012.
“I’m very happy Sealaska is able to provide distributions consistently to tribal member shareholders over the years,” said Sealaska Chair Albert Kookesh. “The economic impact of the April 2013 distribution to Southeast and Alaska’s economy is huge. I hope leaders across the state take note that Sealaska is a major contributor to Alaska’s economy as a result of Sealaska shareholders who continue to live at home.”
“The board-approved distribution is one meaningful benefit that Sealaska provides to shareholders and communities,” said Sealaska Finance Committee Chair Joe Nelson. “For example, each year we provide more than $300,000 in higher education scholarships, our profits support the internship program, and soon we will be breaking ground on the Walter Soboleff Center in downtown Juneau, Alaska.”
The April 2013 distribution includes payments from ANCSA Section 7(i) revenue sharing. Under Section 7(i), regional Native corporations like Sealaska are required to share 70 percent of their resource revenues from ANCSA lands with the other ANCSA corporations, according to Sealaska President and CEO Chris McNeil Jr. “Sealaska’s timber program funneled more than $300 million to 7(i) during the early years of ANCSA and now contributions are coming from NANA who is developing their resources. Section 7(i) of ANCSA is doing exactly what it was designed to do,” said McNeil.
$ Amount Per 100 Shares
Urban and At-Large Shareholders
Elder Urban and At-Large Shareholders
Non-Elder Village and Leftout Shareholders
Elder Village and Leftout Shareholders
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 2013 April dividend will be $0.54 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 $1.00 per share.
In addition to operations and the Marjorie V. Young Permanent Fund dividends, a $5.44 per share ANCSA Section 7(i) revenue sharing payment will be made.
The record date for the April distribution is March 29, 2013. The record date is when Sealaska closes its shareholder register from any changes. It is critical to have shareholder information updated with the Shareholder Records Department before any record date.
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."
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.
To sign up, complete a Direct Deposit form and return it to Sealaska. Please also 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 Reminders About Distributions Shareholders are strongly 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. Shareholders may not change their information after the Record Date until the distribution is completed. It is important to make any changes to a shareholder record prior to the Record Date of any distribution.
Payments to shareholders might be delayed for any of the following reasons:
Please keep your shareholder information current. Contact the Shareholder Records department with any changes at 800.848.5921, in Juneau at 907.586.9283, or email email@example.com.
How Distributions Are Calculated Sealaska shareholders receive distributions from three sources: operations, the Permanent Fund and Section 7(i) revenue sharing.
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 director.
Some earnings from Sealaska’s Permanent Fund are also included in the distributions made to shareholders, according to the Dividend Policy.
All classes of shareholders receive a payment from this source, when a payment is so authorized by the board of directors.
Click here to learn more about our current business investments and the Permanent Fund.
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 Class 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.
Unlike Urban and At-Large (Class B and C) shareholders, Village (Class A) shareholders do not receive a 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 Section 7(j) payments.
Descendants and Leftouts (Class D and Class L) shareholders do not receive a Section 7(j) payment from Sealaska.
Dividend Policy Sealaska’s dividend policy calls for distribution of up to 35 percent of the Corporation’s net income from operations averaged over the past five years, and up to 50 percent of the earnings from the Permanent Fund averaged over the last five years after inflation proofing and 3 percent of the Permanent Fund’s average fiscal year-end market value over the previous five years. Section 7(i) monies received by Sealaska are paid to shareholders according to the revenue sharing agreement: one half of the Section 7(i) monies received annually are paid back out to Urban and At-Large (Class B and C) shareholders and to Village Corporations.
When is the Next Distribution? Distributions are usually made in the months of April and December. Distribution announcements will be made through the eNewsletter, a press release, in the Shareholder newsletter, the homepage of this website and the shareholder hotline.
The record date is the date that Sealaska closes its shareholder register from any more changes until after a distribution is made. It occurs a few weeks prior to each distribution and confirms the shareholders of record eligible to receive a given distribution. It is critical to have your shareholder information updated with the Shareholder Records department before any Record Date.