Sealaska Plaza is the corporation’s Juneau headquarters. Officials 0n April 3 announced the spring distribution to shareholders. (KTOO file photo)
Alaska’s largest regional Native corporation will distribute $12.9 million this month.
Sealaska’s 21,600 shareholders will each get between $129 and $887, depending on their status.
The majority of the payout comes from a shared pool of regional Native corporations’ natural resource earnings. Other funds come from a savings account and corporate operations.
Most eligible Tlingit, Haida and Tsimshian shareholders will get $758. That’s the amount for those belonging to an urban Native corporation, such as Juneau’s Goldbelt.
Those holding stock in village corporations, such as Kake Tribal or Huna Totem, will get $129 each. Descendants of original Sealaska shareholders will see an equal amount.
The difference between the two totals is sent to village corporations. Some pass it on, while others invest it or pay debts.
Eligible elders will receive an additional $129.
The amounts are based on ownership of 100 shares of stock. Some shareholders have more or less, due to inheritance or gifting.
The Sealaska Board of Directors approved the distribution at an April 3 meeting. Payments will be made around April 13. Sealaska is headquartered in Juneau.
A second 2015 distribution is expected around December.
Each spring dividend includes $50 from corporate earnings. The past two payouts have not, due to operational losses.
President and CEO Anthony Mallott says Sealaska continues to recover from the 2013 financial loss.
“We are confident that the significant improvement in financial performance will lead to greater progress, as we remain disciplined and follow our strategic plan toward financial stability,” he said in a press release.
