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Huna Totem Corp. to pay out distribution

Posted: Wednesday, February 13, 2008

The Huna Totem Corp. board announced a distribution Tuesday of $10.80 per share, or $1,080 for a typical shareholder with 100 shares.

The Native village corporation has about 1,200 shareholders with ties to the village of Hoonah.

The distribution will be paid by Feb. 15, the corporation said in a release.

"When I heard the money was coming, I was dancing," said shareholder and Hoonah resident George Dalton. "Every little bit helps."

Dalton said a lack of jobs in Hoonah means hard times have fallen on some residents. He had been closely watching his consumption of 50 gallons of heating fuel he bought for $197 early in the winter and also was burning wood for heat.

Dalton said the money would help him buy more oil and pay for other necessities.

"I'm sure it will help a lot of people," he said. "It will help me on little bills I've fallen behind on this winter."

The corporation has business interests in managed investments, commercial real estate, banking and tourism, according to its Web site. It would not release further information Tuesday on the distribution.

Since 1994, the corporation's trust has paid more than $32 million in distributions, allowing a typical shareholder to receive about $36,500.



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