Sealaska Announces December Distribution Totaling $11.7 million
November 19, 2013
“Distributions strengthen our communities through this economic infusion, some $11.7 million this distribution,” said Sealaska Board Chair Albert Kookesh. “Since inception, Sealaska has paid more than a half billion dollars total to shareholders and village corporations.” “Sealaska’s purpose is to strengthen our people, culture and homelands,” said Sealaska President & CEO Chris E. McNeil Jr. “Revenue sharing between regional corporations contributes to advancing our purpose. The ANCSA Section 7(i) agreement mandates sharing 70 percent of resource development revenue with all regional corporations on a per capita basis. Sealaska has paid more than $317 million into that pool from our own natural resource management, and now we’re the recipient of resource development from other regions.” The December distribution by the numbers:
The December distribution will consist of dividends from operations and the Marjorie V. Young Shareholder Permanent Fund (MVY) and a payment from ANCSA Section 7(i) revenue pool, according to Anthony Mallott, Sealaska treasurer and chief investment officer. “This distribution consists of dividends of $0.14 per share from operations, $0.57 per share from MVY and a 7(i) payment of $6.42 per share,” said Mallott.
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