Sealaska shareholders tuned in from locations around Alaska and the country yesterday to hear an overview of the fall distribution from Sealaska President and CEO Anthony Mallott. The distribution, which was issued to those with direct deposit today, is the third made through the Sealaska Settlement Trust, which was established by shareholder vote in 2021.
Mallott was joined by Director Morgan Howard, who serves as chair of the finance committee and provided background and a board perspective for shareholder Q&A. Mallott and Howard provided a high-level breakdown of the distribution process, including income sources, factors that can impact distribution amounts and a look into what to expect in the coming months based on market factors.
Sealaska’s distributions are made up of funds from three sources: Sealaska operations, the Marjorie V. Young Shareholder Permanent Fund and the Alaska Native Claims Settlement Act’s Section 7(i) resource revenue sharing. Distribution payments from both Sealaska operations and the permanent fund are calculated using a five-year average, which helps stabilize dividends from the volatility of the investment market, said Mallott.
By creating trusts and endowments that grow over time, Sealaska provides for both current and future generations, added Howard, referencing the Tlingit concept of Haa Shagoon – past, present, future. “For me, it means understanding our descendants and our ancestors and our place among them,” he said. “It’s giving weight to our ancestors and descendants when we make decisions.”
Both Howard and Mallott went on to explain that, although distributions are the most tangible, they are far from the only benefits Sealaska provides to shareholders. Sealaska invests in shareholder priorities and our shared vision for the future, which includes:
- Language revitalization
- Scholarships
- Internships (2023 internships are open now!)
- Education, training and workforce development
- Elder benefits
- Advocacy for our way of life
A question-and-answer session followed the presentation. Questions were addressed regarding descendants, carbon credits, climate change, business operations and more. For more information, please contact corpcomm@sealaska.com.
View the full event video below.