Sealaska Announces Fall 2023 Distribution
Thursday, November 2, 2023

As part of our commitment to the shareholders and communities who make us who we are, Sealaska will issue a fall distribution totaling $13.6 million, to be issued to shareholders on Thursday, Nov. 9. Sealaska’s board of directors approved the distribution at a board meeting held in Juneau on Thursday, Nov. 2. After the fall distribution is made, a total of $17.2 million (approximately $5.85 per share in total) in dividends will have been distributed from operations and the Marjorie V. Young (MVY) Shareholder Permanent Fund to shareholders in the 2023-year period.

The fall distribution includes dividends totaling $4.5 million from Sealaska operations, which include our ocean-health focused businesses, $3.0 million from the MVY permanent fund and an additional $6.1 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 Shareholder Settlement Trust inclusive of the dividend from operations and MVY Permanent Fund, and one from Sealaska to include the 7(j) portion.

“Shareholder priorities guide all that we do — providing for distributions, like this one, but also creating programs and benefits, advocating for traditional ways of life, and growing economic opportunities through training, workforce development and employment,” said Sealaska Board Chair Joe Nelson. “Delivering meaningful value to nearly 26,000 shareholders is a tall order. Regular shareholder participation is critical.”

One especially notable area of impact? Sealaska’s descendant shareholder group. The fall 2023 distribution will be the first distributed to over 10,000 descendant shareholders, enrolled since 2007, helping build economic vitality for young people. At the same time, said Sealaska President and CEO Anthony Mallott, Sealaska continues to operate from a multigenerational perspective, prioritizing Elders alongside future generations. Elders receive 100 shares of elder stock on their 65th birthday. This elder share class was specifically approved by the board to highlight the support we have for our elders and to offset the effect of share dilution created by adding our descendant shareholders.

“Sealaska invests for today and tomorrow,” said Mallott. “As we continue to grow income sources that rest fully within our control, we’re able to grow the benefits we provide to current shareholders. This also makes it possible for us to continue making long-term investments — the memorial and educational scholarship funds, for example — that benefit both original shareholders, second- and third-generation descendant shareholders, and those yet to come.”

Sealaska remains committed to growing the business income that falls within our direct control, striving to offset market volatility and any potential future decline in 7(j) or investment income. Continued growth in business income helps support a stable dividend amount. Business income growth helps offset decline in 7(j) and dilution, which we are beginning to see the impact of.

The following chart shows the history of dividend payments from operations and the MVY permanent fund by fiscal year.

Sealaska shareholders will receive a fall distribution that includes:

  • $1.48 per share payment from Sealaska operations.
  • $1.01 per share payment from Marjorie V. Young Shareholder Permanent Fund.
  • Urban and At-Large shareholders will also receive an ANSCA Section 7(j) payment of $3.90 per share as part of their distribution payment.

Thursday, Nov. 2 at 4 p.m. Alaska time is the record date – this is the last opportunity shareholders will have to make changes to stock complete enrollment or gift stock ahead of the fall distribution. To ensure your enrollment is complete or updates are finalized, please reach out to Shareholder Relations immediately rather than waiting until the record date. 

Friday, Nov. 3 at 4 p.m. Alaska time is the last opportunity shareholders will have to update addresses or banking information in person, while Sunday, Nov. 5 at 11:59 p.m. Alaska time is the last opportunity shareholders will have to update banking and address changes online ahead of the upcoming distribution. To make updates to record information, please visit MySealaska.com. Shareholders can also contact the Sealaska Shareholder Relations team directly with the MySealaska Messaging feature or at records@sealaska.com or 1.800.848.5921.

At Sealaska, we’re committed to ensuring that we can successfully distribute your dividends, keep you informed with essential updates, and provide seamless access to our services. Shareholders who are on the bad address list will have their dividends withheld until records are updated. This policy is meant to protect our shareholders and ensure that dividends are paid to accurate account holders, which is important in this time of increased account fraud. Please help your family and friends to ensure their information is updated.

IMPORTANT DATES FOR SHAREHOLDERS

DISTRIBUTION AMOUNT DETERMINED — Thursday, Nov. 2

  • The Board of Directors meets to determine the distribution amount.
  • After the distribution amount is determined, estimated distribution information will be available to shareholders when logged in to MySealaska.com. Estimated payments on MySealaska on Thursday are subject to change if any share transfers are completed before the record date.

RECORD DATE — Thursday, Nov. 2

  • Last day to complete enrollment and/or stock transfers prior to the fall distribution. All stock activity must be completed by 4 p.m. Alaska time.
  • If all shareholder information is up to date, no action is needed.

UPDATE ADDRESSES AND BANKING INFORMATION IN PERSON — Friday, Nov. 3

  • All in-person changes must be complete by 4:00 p.m. Alaska time.
  • If all shareholder information is up to date, no action is needed.

UPDATE ADDRESSES AND BANKING INFORMATION ONLINE – Sunday, Nov. 5

  • All changes must be complete 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 – Thursday, Nov. 9

  • Direct deposits are electronically transferred, and checks are mailed.
  • Please note that while checks are mailed on Nov. 9, 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.
  • Please note that shareholders with class B or C shares will receive two separate payments: one from the Shareholder Settlement Trust inclusive of the dividend from operations and MVY Permanent Fund, and one from Sealaska to include the 7(j) portion.

Make Changes via MySealaska.com 

If you need to update your address or banking information, please log in to your MySealaska.com account. You can also complete your application for Descendant Enrollment here.

Questions? 

The most effective way to contact Shareholder Relations is through the MySealaska “Message” feature, found under “About Me” and “MySealaska Messages” when logged in to MySealaska.com. The Shareholder Relations team will do their best to respond in a timely manner during normal business hours 8 a.m. – 5 p.m. Alaska time, Monday – Friday. You can also send an email to records@sealaska.com or call 1.800.848.5921.

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