March 29, 2010
Monday

Juneau, Alaska - On behalf of the Sealaska Board of Directors, Chair Albert Kookesh announced the distribution to be paid to tribal member shareholders on April 09, 2010. The distribution is derived from operations earnings, the Marjorie V. Young Permanent Fund and from ANCSA section 7(i) revenue sharing.

"Approximately $3.7 million will be infused into the Southeast economy alone with the April 2010 distribution," said Kookesh. "This demonstrates one aspect of the vital role Sealaska and its tribal member shareholders play in the regional economy. Sealaska has over 20,000 tribal member shareholders and more than 40% living in southeast."

Sealaska has a dividend policy, which guides the board of directors in evaluating dividends made from the Marjorie V. Young Permanent Fund and operations:

Dividends from the Marjorie V. Young Permanent Fund will be based on a percent of market value (POMV) and averaged over five years.

Sealaska policy states that 35% of the corporations consolidated net earnings averaged over five years, minus earnings associated with the permanent fund may be paid annually in two installments.

Urban & at-large tribal member shareholders will receive a distribution of $4.12 per share. Descendants, left outs, village shareholders & Elders will receive $2.36 per share. As required by Section 7(j) of ANCSA Sealaska will distribute to village corporations, $1.76 per share, totaling $766,128.

The record date for the April 2010 distribution is Friday March 26, 2010, meaning only shareholders of record on that date will receive April distributions.

In 2007 and 2009, tribal member shareholders voted to enroll eligible descendants and left outs, and to issue additional shares to eligible Elders. The April 2010 distribution will be issued to 3,808 new tribal member shareholders and 1,971 new Class E stockholders. There is no deadline for applying for descendant, left out and Elder shares but you must meet the eligibility requirements. Sealaska welcomes our new shareholders and encourages those who may meet requirements to fill out necessary paperwork.

Source of News:

Sealaska
www.sealaska.com

 

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