Sealaska Announces Fall 2024 Distribution of $11.1 million
Friday, November 8, 2024
Sealaska is announcing a Fall 2024 distribution totaling $11.1 million to be issued to shareholders on Thursday, November 14. Sealaska’s board of directors approved the distribution at a meeting held in Juneau on Friday, November 8.
The distribution includes $3 million from Sealaska’s operations, $3.3 million from the Marjorie V. Young (MVY) Permanent Fund and an additional $4.8 in Alaska Native Claims Settlement Act Section 7(i) natural resource revenue sharing funds for shareholders with class B or C shares.
The operations dividend does not directly reflect the financial performance of Sealaska’s businesses. Sealaska’s dividend is reduced by the investment that Sealaska makes in donations to our One Sealaska nonprofits, as well as land management, community outreach, educational opportunities, internships, scholarships and other shareholder benefits. Sealaska’s Board of Directors works to balance dividend payments with the investments Sealaska makes each year to support our shareholders and communities.
Sealaska’ investment in shareholder benefits grew from less than $4 million in 2016 to more than $11 million in 2023. In November 2016, the annual operations and permanent fund dividend totaled $1.33 per share, compared to $2.05 per share in this distribution – a 50% increase, even as the total number of outstanding shares significantly increased.
Additionally, Sealaska assumed the income tax due on operations and permanent fund distributions through the Settlement Trust – saving shareholders more than $1 million per distribution.
Dividends are based on Sealaska’s average results over the past five years. From 2018 to 2022, our dividend was higher due to $144 million in carbon credit revenue. Starting in 2023, carbon revenue began phasing out of this calculation, and that’s continued into 2024.
Receiving Your Dividend
Direct Deposit Enrollment: For a faster payment, enroll in direct deposit by logging in to MySealaska.com and updating your banking information by 11:59 p.m. AK Time on November 10.
Address Updates & Bad Address List: If you’ve recently moved, update your mailing address on MySealaska.com to ensure timely communication and distribution payments. Check for your name or family members on the bad address list to avoid withheld distributions, as Sealaska withholds dividends for shareholders without an accurate address on file to prevent fraud and ensure payments reach the correct person. Please remind family and friends to keep their information up to date.
LAST DAY TO CHANGE SHAREHOLDER INFORMATION
Sunday, November 10 at 11:59 PM Alaska time
Update banking or mailing information on MySealaska.com by 11:59 PM. Alaska time.
If your information is up to date, no action is needed.
DISTRIBUTION DATE
Thursday, November 14
Please note that while checks are mailed on November 14, they may take up to two weeks to arrive. Direct deposits may take up to two days before they are available in your bank account.
The fastest, easiest and most secure way to receive your distribution payment is to sign up for direct deposit: https://mysealaska.com/Services/DirectDeposit.