Early 2020 fall distribution to augment other shareholder benefits
In recognition of the ongoing economic and health crisis caused by the coronavirus, Sealaska’s Board of Directors is accelerating payment of the 2020 shareholder dividend. Issuing dividends two weeks earlier than usual underscores Sealaska’s commitment to our shareholders during this challenging time.
Throughout the pandemic, Sealaska has sought out ways to support our shareholders and our communities. In April, the Sealaska board established a $1 million COVID-19 relief and recovery fund, which has since grown to $1.4 million. The funds have been put to use throughout the communities we serve, providing assistance with utilities and other expenses for Elders, feeding schoolchildren and vulnerable families, and providing $10,000 to each of the region’s tribes for use in COVID relief and recovery efforts.
“The Board is extremely grateful for the success the company has enjoyed over the past several years,” said Joe Nelson, Sealaska board chair. “The company’s performance allows us to provide a variety of support to our people, who are facing enormous financial pressures during these challenging times.”
The Board approved the company’s 2020 fall distribution totaling $22.7 million to be issued on October 30, 2020. The distribution includes payments from operations ($7.6 million) and the Marjorie V. Young (MVY) Shareholder Permanent Fund ($2.4 million).
Several years ago, Sealaska refocused our business strategy to better align with our Tlingit, Haida and Tsimshian heritage. The company has recovered from historical underperformance, and our businesses are creating value for both people and the planet through investments in ocean health, clean water, low-impact food and local communities. Sealaska’s financial strength has resulted in increased dividends and distributions to shareholders. In addition, it fuels the company’s efforts to support revitalization of our Native languages, provides internships and scholarships, and helps provide additional assistance to our Elders.
“Our success comes directly from our businesses leading with values and bringing a passion for problem solving to address the profound issues facing humanity,” said Sealaska President and CEO Anthony Mallott. “The financial growth of our businesses allows us to increase shareholder benefits and make even greater investments in cultural, educational and social initiatives that our shareholders prioritize.”
The following chart shows the history of dividend payments from operations and the MVY permanent fund by fiscal year.
If you need to update your records or make changes to your stock, gift stock, or update your address or banking information, please visit MySealaska.com. You can also contact the Sealaska Shareholder Relations team directly at email@example.com or 1.800.848.5921.
Sealaska distributes dividends from operations and the MVY Permanent Fund to more than 23,000 shareholders.
“We are proud of Sealaska’s growth in revenue and income and what that means for all shareholder benefits, including this year’s distribution,” said Mallott.
For the full year, Sealaska’s 2020 distributions have included payments from operations ($13.5 million) and the MVY Permanent Fund ($4.8 million), contributing to $18.3 million in shareholder value for the calendar year.
All Sealaska shareholders will receive a fall distribution that includes:
- $3.02 per share payment from Sealaska operations
- $0.96 per share payment from Marjorie V. Young Shareholder Permanent Fund
The 2020 fall distribution also includes an ANSCA Section 7(i) payment or $8.08 per share to Urban and At-Large shareholders. The 7(i) portion is driven by a formula that requires distribution to shareholders and village corporations on behalf of their shareholders. Many of the village corporations pass these funds along in due course.
Distribution Schedule for Shareholders:
- Wednesday, Oct. 14, 2020 | Record Date is the last day to make changes to stock, gift stock, enroll, process estates or transfer shares.
- Monday, Oct. 26, 2020 | Last day to change shareholder banking or mailing information. Update information on MySealaska.com by 11:59 p.m. AKDT.
- Friday, Oct. 30, 2020 | Distribution occurs
Sealaska is the Alaska Native regional corporation for Southeast Alaska. The company was incorporated on June 16, 1972, as a for-profit corporation pursuant to the Alaska Native Claims Settlement Act of 1971 (ANCSA). Headquartered in Juneau, Alaska, Sealaska owns and manages 362,000 acres of land on behalf of more than 23,000 shareholders. Sealaska’s land holdings in Southeast Alaska are roughly 1.6 percent of the traditional homelands that the Tlingit, Haida, and Tsimshian people have inhabited for more than 10,000 years. Sealaska’s purpose is to strengthen our people, culture and homelands. We invest in and operate businesses that improve the health of our oceans, maintain healthy homelands in Southeast Alaska, and benefit shareholder communities.