Sealaska announces spring distribution

Posted: Tuesday, March 31, 2009

JUNEAU - Sealaska will distribute a dividend to tribal member shareholders April 10.

Urban and at-large shareholders will receive $9.81 per share; village, descendant and leftout shareholders will receive $1.01 per share; and Southeast village corporations will receive $8.80 per share.

Village corporations have the option to retain the funds for investment or to distribute them to shareholders.

The Permanent Fund will not contribute to the dividend due to the significant decline in value in 2008 caused by the economic recession," Sealaska President and CEO Chris E. McNeil, Jr. said.

"Sealaska management of the Permanent Fund is modulating the financial impact of this recession on the fund," McNeil said. "The company's strong leaders on the board and management recognized the recessionary risks and took steps to control the negative impacts throughout our operations including the Permanent Fund."

In 2007, shareholders voted to enroll descendants and leftouts into the corporation, thereby creating two new classes of stock. Enrolled descendants will receive $1.01 per share of Class D stock and leftouts will receive $1.01 per share of Class L stock.

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