Sealaska to Achieve Third Straight Year of Record Financial Profit
Friday, December 20, 2019
As we near the end of 2019, Sealaska can look back and be proud of another successful year due to our business growth. Sealaska expects to meet and exceed its record net income of $65.2 million in 2018. Please note, Sealaska’s final 2019 audited financials will be published in May 2020.
Sealaska achieved a $100 million net income turnaround from 2013-2018, and in 2018 achieved its greatest amount of net income and revenue in company history.
Sealaska financial success drives shareholder value, such as:
- $10 million added to scholarship endowment
- $6 million memorial fund
- $16 million in shareholder dividends
- $10 million to Language Revitalization endowment
Business Income: Natural resources, environmental and water services, and food businesses are all growing year-over-year. We have a strategic focus on ocean health that keeps us disciplined in our business approach and decision-making.
Investment Income: Strong stock markets in 2019 should allow us to show growth in investment income. Global stock markets are up over 20 percent for the year and fixed income and bond markets are also up. While investment volatility makes it challenging to forecast year-end results, we are currently projecting ahead of last year.
ANCSA Section 7(i): With commodity price volatility from the U.S.–China trade war, we may see lower 7(i) income in 2019 compared to 2018. Our best strategy to address the ups and downs we see in ANCSA Section 7(i) and investment income is to focus on our business results and to create growth in our own operational income.
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