Sealaska dividends include no corporate earnings
The spring dividend for most Sealaska shareholders will be $721, but some will receive less than a tenth of that amount.
The total distribution to the regional Native corporation’s 21,600 shareholders is $11.8 million. Payments will be mailed out April 8 and direct-deposited April 11.
Most stockholders own 100 shares. The amount of dividends differ due to status of the corporation’s Tlingit, Haida and Tsimshian members.
Those enrolled in Sealaska plus an urban Native corporation, such as Sitka’s Shee Atiká, receive the full $721. So do at-large shareholders, who are only enrolled in Sealaska.
Those holding stock in a village corporation, such as Saxman’s Cape Fox, get $57.
The difference is a payout from a pool of regional Native corporations’ natural-resource earnings. Sealaska pays resource earnings directly to urban shareholders, as part of their dividends. But it pays the resource revenues to village corporations, which decide whether to pass them on to shareholders.
Descendents of original shareholders also get $57 per 100 shares. Elders in any category receive an extra $57. Those funds come from Sealaska’s permanent fund.
None of the money is coming from Sealaska’s business operations. CEO Chris McNeil says the corporation is in the second year of restructuring its operations. That includes last summer’s sale of its share of plastics factories in Alabama, Iowa and Guadalajara, Mexico.
More details on Sealaska’s business operations will be in its annual report, to be released in May.