Sealaska Announces Spring
March 29, 2010
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.
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