Sealaska Announces Spring 2019 Distribution
Thursday, March 28, 2019
Sealaska’s Business Success Results in Record Dividend Payment from Operations
The Sealaska Board of Directors approved a spring distribution totaling nearly $32 million on March 29, 2019. Due to Sealaska’s business growth and steady financial success, dividend payments to shareholders from operations and the MVY Permanent Fund is at the highest level in over twenty years.
“Sealaska’s financial strength is the result of the success of our businesses, along with the proceeds from our carbon-offset project,” said Sealaska President and CEO Anthony Mallott. “As a result, I’m pleased to report that dividend payments from operations are growing and will continue to grow.”
“With our current financial growth, we continue to strengthen our shareholder benefits such as the Deishú Memorial Fund and scholarship endowment,” said Sealaska Board Chair Joe Nelson. “We also know from recent shareholder surveys that distributions remain a top priority for our shareholders.”
Business Growth Drives Record Dividends from Operations
The 2018 dividend payment grew by 72 percent over the previous year and is estimated to grow by 22 percent this year. This upward trend continues since 2014 when Sealaska’s business and financial turnaround began. (See bar chart below.)
Key Highlights of Dividend Amount by Fiscal Year Chart
- The chart provides history of dividend payments from operations (orange) and the Marjorie V. Young Shareholder Permanent Fund (teal) by fiscal year
- Dividend payments from operations (orange) have increased each year since 2014
- With continued success, dividend payments from operations (orange) are forecast for growth
All Sealaska shareholders will receive a spring dividend payment that includes
- $2.22 per share payment from Sealaska Operations
- $0.90 per share payment from Marjorie V. Young Shareholder Permanent Fund
The 2019 spring distribution also includes an ANSCA Section 7(i) payment of $15.70 per share to Urban and At-large shareholders.
Click here to read about Sealaska’s dividend policy
Zinc Prices Contribute to High ANCSA Section 7(i) Payments
The 2019 spring distribution also includes an ANSCA Section 7(i) payment of $15.70 per share to Urban and At-Large shareholders. 7(j) payments of $15.70 per share will be sent directly to village corporations to utilize at their discretion. High zinc prices are contributing to the ANCSA natural resource revenue pool, particularly from NANA Regional Corporation’s Red Dog mine. Village shareholders do not receive an ANCSA Section 7(j) payment directly from Sealaska. Under ANCSA, Sealaska is required to make payments directly to each of the 10 Southeast village corporations.
Click here to read more about ANCSA Section 7(i)
Distribution schedule for shareholders
- Friday, March 29, 2019 | Record Date the last day to make changes to stock, gift stock, enroll, process estates or transfer shares
- Monday, April 8, 2019 | Last day to change shareholder banking or mailing information. Update information on MySealaska.com by 11:59pm AKDT. (in person at Sealaska HQ by 4pm AKDT)
- Friday, April 12, 2019 | Distribution occurs
Q: Why does my distribution check seem lower compared to distributions by other Native Corporations?
A: Sealaska is one of the largest Native Corporations with more than 22,000 shareholders, so that means that the amount per shareholder can be lower than other corporations. Since inception through 2018, Sealaska has issued $691M to shareholders in the form of distributions.
Click here to read more FAQs regarding Sealaska distributions