Sealaska Announces Spring 2023 Distribution
Friday, April 14, 2023
Sealaska’s spring distribution of $37.7 million is part of Sealaska’s continued investment in our shareholders and communities. The distribution includes dividends totaling $6.8 million from Sealaska’s ocean-health focused operations businesses, $2.9 million from the Marjorie V. Young (MVY) Shareholder Permanent Fund and an additional $28.0 million in Alaska Native Claims Settlement Act Section 7(j) natural resource revenue sharing funds. Please note that shareholders with class B or C shares will receive two separate payments: one from the Permanent Fund that includes the dividend from operations and MVY, and one from Sealaska that includes the 7(j) portion. The dividend was declared at a board meeting in Sitka on Friday, April 14 and will be distributed on Friday, April 21, 2023.
“Our financial strategy is focused on making benefits like distributions possible not just for current generations, but all those yet to come,” said Sealaska President and CEO Anthony Mallott. “This multigenerational model is thanks in part to the stability and balance that Sealaska has deliberately created, building businesses that support both values and bottom line.”
Sealaska’s business operations have continued to grow, providing reliable income even through unpredictable markets related to the wider global economic climate. Sealaska’s primary sources of income are investment income, natural resource income and business income. This diversified revenue stream allows for resiliency. By focusing on ocean health along with a multigenerational outlook and financial strategy, Sealaska continues to perform despite volatile investment markets, the impacts of inflation, continued repercussions from the pandemic, disruptions in global supply chain and more.
“Sealaska is committed to providing stable dividend payments even in times when one of our income sources is impacted,” Mallott continued. “This is made possible through continued work to diversify income sources and create balance within our long-term strategy.”
This balanced approach, along with intentional reinvestment back into businesses and communities, allows Sealaska to provide shareholder benefits, including distributions. Sealaska’s investment in shareholders reaches beyond distribution time, though — shareholder benefits and programs offered by Sealaska support Elders, education, workforce development, cultural and language revitalization, community partnerships and more.
“The dividend program is an important component of our overall shareholder benefit strategy because it reaches our 25,000 shareholders twice a year,” said Sealaska Board Chair Joe Nelson. “The board and management team are working hard to ensure that your company continues to make a difference in our communities and in the lives of our shareholders.”
This distribution is the fourth made through the Sealaska Settlement Trust, which was passed by shareholder resolution at the 2021 annual meeting. Dividends through the Trust are non-taxable to shareholders. The 7(j) portion of payments to shareholders with Class B and C stock are taxable.
Sealaska shareholders will receive a spring distribution that includes:
- $2.36 per share payment from Sealaska operations.
- $1.00 per share payment from Marjorie V. Young Shareholder Permanent Fund.
- Urban and At-Large shareholders will also receive an ANCSA Section 7(j) payment of $17.76 per share as part of their distribution payment.
Monday, April 17 is the record date – this is the last day for shareholders to enroll, make changes to stock or gift stock ahead of the spring distribution. This is also the last day to update addresses or banking information. To ensure your enrollment is complete or updates are finalized, please reach out to Shareholder Relations immediately rather than waiting until Monday.
To make updates to record information, please visit MySealaska.com. The fastest way for shareholders to contact the Sealaska Shareholder Relations team is by using the messaging feature on MySealaska.com. Shareholders can also contact Shareholder Relations directly at email@example.com or 1.800.848.5921.
The spring distribution schedule is as follows:
RECORD DATE — Monday, April 17
- Shareholder descendants, be sure to complete any shareholder enrollments by this day, or you will not be eligible for the spring distribution.
- Last day to complete enrollment and/or stock transfers prior to the spring distribution. All stock activity must be completed by 4 p.m. Alaska time.
- Update banking or mailing information on MySealaska.com by 11:59 p.m. Alaska time. Shareholders who are on the bad address list will have their dividends withheld until records are updated. Please help your family and friends to ensure their information is updated.
- If all shareholder information is up to date, no action is needed.
DISTRIBUTION DATE – Friday, April 21
- Direct deposits are electronically transferred, and checks are mailed.
- Please note that while checks are mailed on April 21, they may take up to two weeks to arrive. The fastest and easiest way to receive your distribution payment is to sign up for direct deposit.
Sealaska shareholders are now able to view and download their IRS Form 1099-DIV for 2023. Printed 1099 tax forms will be mailed on or before Jan. 26.