Sealaska announces check distribution

ANCHORAGE - The board of directors for Sealaska Corp. said shareholders will receive distribution checks in December.

Amounts to be distributed Dec. 5 are based on various factors including earnings from operations of the Native corporation.

Officials said urban and at-large shareholders will receive $10.46-per-share distribution.

Others including descendant shareholders will receive $1.61 per share.

Sealaska Pres. Chris E. McNeil, Jr., said company officials anticipate year-end losses because of "recessionary economic conditions."

Sealaska is a Southeast Alaska Native regional corporation.

Shareholders voted last year to enroll descendants and others into the corporation, thus creating new classes of stock.