Sealaska’s board of directors approved a $21.3 million distribution to shareholders when it met Friday, April 8. The spring distribution is made up of $7.5 million from Sealaska’s business operations, $2.6 million from the Marjorie V. Young (MVY) Shareholder Permanent Fund and $11.2 million in Alaska Native Claims Settlement Act Section 7(j) natural-resource revenues. The distribution will be issued to shareholders on Friday, April 22.
The distribution demonstrates Sealaska’s financial strength and the continued growth of business operations, which have remained robust through a shift in focus toward ocean health. This year marks the eighth year in a row that distributions from operations and investments have increased. The dividend total amount has more than tripled since 2015. Sealaska’s businesses are now more closely aligned with the Tlingit, Haida and Tsimshian values that allowed our people to live in balance with our natural environment for more than 10,000 years.
“Sealaska’s continued growth is made possible through the financial strength of our businesses, achieved through the hard work of those involved at every level,” said Sealaska President and CEO Anthony Mallott. “We remain grateful for their commitment to our goals and values. It is through this shared vision and dedication that we are able to provide crucial support to our people through shareholder benefit programs and distributions.”
Sealaska board chair Joe Nelson said he views Sealaska’s success through two overlapping lenses—as a profit-driven, results-oriented business and as an entity working toward goals such as combating climate change and promoting ocean health.
“Our connection to the lands and waters of Southeast Alaska is deeply rooted in our past, present and future as a people,” said Nelson. “Sealaska strives to see our investments reflect this intergenerational thinking.”
Support for the people Sealaska serves goes beyond biannual dividends. In recent years, Sealaska has increased its commitment to language revitalization, scholarships and economic- and workforce-development programming. Sealaska also provides ongoing support to partner organizations like Sealaska Heritage Institute, Spruce Root and the Sustainable Southeast Partnership.
In 2022, Sealaska is doubling its commitment to shareholder- and workforce-development initiatives to help ensure our people have access to the education and training needed to develop meaningful careers wherever they live.
“Education and career training opportunities are a priority to Sealaska shareholders,” said Senior Director of Shareholder Development Tesla Cox. “We are expanding our offerings to reach shareholders and descendants from middle school to college and throughout their careers. Our programming is increasingly flexible and inclusive of opportunities outside the four-year-degree framework. It’s exciting to be able to do even more in this area.”
The $393 that Elders receive is in addition to the regular dividend that each Elder receives per 100 shares.
The spring distribution will mark the second distribution made through the Sealaska Settlement Trust, which was established with the overwhelming support of shareholders in 2021. Shareholders no longer pay federal income tax on distributions from earnings on Sealaska operations and investments now that the settlement trust is in place. Find more information on the Sealaska Settlement Trust online.
See below for a depiction of the history of dividend payments from operations and the MVY permanent fund by fiscal year.
Monday, April 18 is the last day for shareholders to update their mailing address or banking information (for direct deposit) on MySealaska.com. You can also contact the Sealaska Shareholder Relations team directly at firstname.lastname@example.org or 1.800.848.5921.
All Sealaska shareholders will receive a spring distribution that includes:
- $1.01 per share from the Marjorie V. Young Shareholder Permanent Fund
- $2.92 per share from Sealaska operations
Urban and At-Large shareholders will also receive an ANCSA Section 7(j) payment of $7.10 per share.
Distribution Schedule for Shareholders:
- Friday, April 8 at 4 p.m. Alaska time | This is the last day to make changes to stock, gift stock, enroll, process estates or transfer shares. You will be able to view your pending distribution amount when logged into MySealaska.com
- Monday, April 18 | Last day to change shareholder banking or mailing information. Update information on MySealaska.com by 11:59 p.m. AKST or in person at Sealaska headquarters by 4 p.m. AKST.
- Friday, April 22 | Distribution occurs
View answers to spring distribution questions here.