Alaska Native CorporationSealaska is a for-profit Alaska Native Corporation, formed as a result of the Alaska Native Claims Settlement Act (ANCSA), which was passed by Congress on December 18, 1971.
ShareholdersSealaska is owned by more than 25,000 Tlingit, Haida, and Tsimshian shareholders. At incorporation, Sealaska enrolled 15,782 Alaska Natives, each of whom received 100 shares or Sealaska stock. Out of the 15,782 original Sealaska shareholders, 8,844 are still shareholders today. As an ANCSA corporation, Sealaska has no publicly traded stock and its shares cannot legally be sold.
Sealaska shareholders voted on June 23, 2007 to enroll qualified descendants of original shareholders by issuing them 100 shares of life estate stock in Sealaska. However, unlike shares of original shareholders, the new shares would expire on the descendant's death and could not be willed or gifted. To be eligible, descendants must be children or grandchildren of original Sealaska shareholders, must be of at least one-quarter Alaska Native descent, and must not be a member of any other regional corporation unless through inheritance or gift. Sealaska is one of the few ANCSA Regional Corporations to elect to enroll descendants and allot them shares.
Sealaska Shareholders voted on June 25, 2022 to remove the ¼ Alaska Native blood quantum criteria from the Descendant Stock (Class D) eligibility requirements, while maintaining all other previously adopted criteria.
Sealaska has established a Permanent Fund (Marjorie V. Young Permanent Fund), comprising investments in stocks, bonds, real estate, and private equity funds, as a source of shareholder dividends.
Sealaska reinvests a significant portion of its earnings back into its community-oriented subsidiaries, as well as offers its own opportunities for young shareholders. Program offerings include things like scholarships for both full- and part-time students, wellness and culture camps, summer internships, and the Board Youth Advisor position.