Sealaska’s winter shareholders’ dividends will again include no operational profits.
That reflects last year’s multi-million-dollar deficit. Last spring’s distribution also included no such profits.
December’s payments were approved by the Southeast regional Native corporation’s board of directors today.
They range from about $980 to $80 per tribal member. Officials say they’ll be paid around Dec. 5.
Most eligible Tlingit, Haida and Tsimshian shareholders will get about $900. That’s the amount for those belonging to an urban Native corporation, such as Juneau’s Goldbelt.
Those holding stock in village corporations, such as Kake Tribal or Huna Totem, will get about $80 each. Descendants of original shareholders will see an equal amount.
The difference between the two totals is sent to village corporations. Some pass it on, while others invest it or pay debts.
In addition, eligible elders will receive about $80 more.
The numbers are based on 100 shares of stock. Some tribal members have more or less, due to inheritance, gifting and other factors.
The winter dividends reflect earnings from Sealaska’s investments and its share of a statewide natural-resource-profits pool.
Corporate officials were not immediately available for comment.
In a press release, Board President Joe Nelson said he’s not satisfied with dividends without corporate earnings.
He said Sealaska is in better shape than it was in 2013, when net losses totaled $35 million. Three-quarters of that came from a construction subsidiary, which badly underestimated two federal projects in Hawaii.
Sealaska is looking for a private company to buy in hopes of regaining profitability. That’s an ongoing process.
Here’s the payment details, according to Sealaska:
|Type of Stock||Per Share||$ Amount Per 100 Shares|
|Non-Elder and Urban and At-Large Shareholders||$8.99||$899|
|Elder Urban and At-Large Shareholders||$9.78||$978|
|Non-Elder Village and Leftout Shareholders||$0.79||$79|
|Elder Village and Leftout Shareholder||$1.58||$158|