The Sealaska Corp. board of directors has approved the highest spring distribution ever to its 17,400 shareholders.
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Urban and at-large shareholders will receive $5.73 per share, while village shareholders will get $4.26 per share, according to a press release from the Southeast Alaska regional Native corporation's board of directors.
That amounts to $573 for the average urban or at-large shareholder who holds 100 shares. Roughly 80 percent of shareholders are urban or at-large.
"We think it's going to be our best year ever. We think the December distribution will be really high. We will exceed last year's fairly easily," said Albert Kookesh, board chairman.
Dividend checks will be issued on April 10. The second distribution is usually mailed out in December.
Last April, villagers received $2.57 per share, and urban and at-large recipients received $3.82.
The December 2006 dividends broke previous records at $8.13 per share for urban and at-large shareholders and $3.45 per share for village shareholders.
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The distributions consist of revenues from corporation profits, its permanent fund, and the Section 7(i) revenue sharing program.
Kookesh said profits have been fairly high this year, but the bulk of the increase can be attributed to the revenue sharing program.
The program requires Alaska-based regional Native corporations to share 70 percent of their net revenues from timber, oil and gas, or minerals with each other, as well as with Native urban and village corporations.
The April 10 distribution will consist of a $1.91 per-share dividend from operations and $2.35 per-share dividend from Sealaska's permanent fund.
Revenues from the 7(i) revenue sharing program will total $1.47 per share for urban and at-large shareholders and Southeast village corporations.
In 2006, the total distribution to urban and at-large shareholders was $11.95 per share, which was more than in 2005 ($8.08), 2004 ($6.00) and 2003 ($5.00).
For more information on Sealaska's distribution policies or to update shareholder contact information, visit the Web at www.sealaska.com.
Brittany Retherford can be reached at email@example.com.