Sealaska announces distribution

Posted: Tuesday, March 30, 2010

JUNEAU - Sealaska Corp. announced a distribution to be paid to tribal member shareholders on April 9.

More than 40 percent of Sealaska's 20,000 shareholders live in Southeast Alaska, according to the company, which is Juneau's regional Native corporation.

Urban and at-large shareholders will receive a distribution of $4.12 per share.

Original shareholders - about 16,000 in 1971 - received 100 shares each. Over time, relatives gifted shares to descendants and new rules allowed others to apply, so shareholders own different numbers of shares.

Descendants, left outs, village shareholders and elders will receive $2.36 per share.

Left outs are shareholders who did not sign up when the corporation was formed but were later allowed to enroll.

Sealaska also will distribute to village corporations $1.76 per share, totaling $766,128.

The record date for the distribution was Friday, meaning only shareholders enrolled by that date will receive money.

In 2007 and 2009, shareholders voted to enroll descendants and left outs, and to issue additional shares to elders. As a result, the distribution will be issued to 3,808 new shareholders and 1,971 new Class E, or elder, shareholders.

About $3.7 million will be distributed in Southeast Alaska, the company said.

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