Sealaska Announces Fall 2018 Distribution
Friday, November 2, 2018
Sealaska’s board of directors approved a fall shareholder distribution totaling nearly $15.5 million, during its board meeting on Nov. 2, 2018. The November distribution is $8.19 per share for urban and at-large shareholders and $3.04 per share for village, descendant and elder shareholders. This distribution reflects strong growth from Sealaska’s businesses as well as investments and income from Alaska Native Claims Settlement Act (ANSCA) Section 7(i) revenue sharing.
Sealaska is reporting another year of strong business growth and positive net income for 2018, exceeding its financial performance in 2017, the company’s strongest year on record. Sealaska paid a total of $22.5 million in shareholder distributions in 2017. In just the first half of 2018, more than $23 million was paid in shareholder distributions. Sealaska’s fall distribution payment brings its total 2018 shareholder distribution payment to nearly $40 million. The total payment per share for 2018 is $21.69 for urban and at-large shareholders and $5.40 for village, descendant and elder shareholders.
“The operational success we’ve created over the past five years has stabilized dividends and will allow us to consistently grow dividends for our shareholders,” said Sealaska CEO Anthony Mallott. “This distribution also reflects new income from carbon credit payments, which offers great financial benefit leading to increasing dividends, increases to the Shareholder Permanent Fund and additional shareholder benefits similar to those provided earlier this year.” Sealaska increased its scholarship endowment by $10 million and created a $6 million Deishú Memorial Fund (bereavement benefit) for shareholders in 2018.
“Sealaska’s strategic plan is working, generating income to more than 22,000 shareholders and strengthening our profitability to increase shareholder benefits,” said Sealaska Board Chair Joe Nelson. “Distributions are just one of the many benefits Sealaska provides its shareholders and steady growth allows us to increase investments in other programs we know our shareholders want, like increases in scholarships and the Deishú Memorial Fund,” he said. By focusing on growing and improving businesses that reflect our values, Sealaska created $43 million in net income in 2017 and will show stronger financial results in 2018. Growing financial success leads to increasing shareholder benefits and programs that go beyond dividends. The board looks to increase the input from shareholders around their benefit and program priorities. DISTRIBUTION SCHEDULEFriday, Nov. 2, 2018 | Record date: the last day to make changes to stock, gift stock, enroll, process estates or transfer sharesMonday, Nov. 12, 2018 | Last day to change shareholder banking or mailing information. Update information on MySealaska.com.Friday, Nov. 16, 2018 | Distribution occurs