Kootznoowoo Permanent Fund issues dividends

Posted: Friday, February 01, 2008

JUNEAU - Shareholders of Angoon's village corporation, Kootznoowoo, were issued a dividend of $3.27 per share Thursday in the first distribution of 2008 from the shareholders' settlement trust.

Carlton Smith, chairman of the Kootznoowoo Permanent Fund Settlement Trust, said that the ending balance for 2007 was nearly $14 million, an increase of nearly $1 million over the previous year.

Two more distributions will be made this year, with the per share total expected at close to $10 for 2008. Most shareholders hold 100 shares of interest in the trust.

Much like the Alaska Permanent Fund, the Kootznoowoo Settlement trust averages returns over a five-year period to provide more predictable dividends throughout the year.

The trust was created by Kootznoowoo in 1991 and funded in 1994 with $9.5 million. Since its inception, the trust has distributed more than $8 million to shareholders.

For more information, contact Smith at 723-3866.

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