Local News

Sealaska dividends include no corporate earnings

Sealaska Plaza is the corporation’s Juneau headquarters. Spring dividends were just announced.

The spring dividend for most Sealaska shareholders will be $721, but some will receive less than a tenth of that amount.

The total distribution to the regional Native corporation’s 21,600 shareholders is $11.8 million. Payments will be mailed out April 8 and direct-deposited April 11.

Most stockholders own 100 shares. The amount of dividends differ due to status of the corporation’s Tlingit, Haida and Tsimshian members.

Those enrolled in Sealaska plus an urban Native corporation, such as Sitka’s Shee Atiká, receive the full $721. So do at-large shareholders, who are only enrolled in Sealaska.

Those holding stock in a village corporation, such as Saxman’s Cape Fox, get $57.

The difference is a payout from a pool of regional Native corporations’ natural-resource earnings. Sealaska pays resource earnings directly to urban shareholders, as part of their dividends. But it pays the resource revenues to village corporations, which decide whether to pass them on to shareholders.

Descendents of original shareholders also get $57 per 100 shares.  Elders in any category receive an extra $57. Those funds come from Sealaska’s permanent fund.

None of the money is coming from Sealaska’s business operations. CEO Chris McNeil says the corporation is in the second year of restructuring its operations.  That includes last summer’s sale of its share of plastics factories in Alabama, Iowa and Guadalajara, Mexico.

More details on Sealaska’s business operations will be in its annual report, to be released in May.

Recent News

Assembly rejects Outside contract for collections

Borough Seal
After hearing some concerns about awarding a contract to a non-local company for the borough’s debt collection, the Ketchikan Gateway Borough Assembly voted Monday to reject a contract with Professional Credit Services of Vancouver, Washington. more

WISH off probation

Ketchikan’s Women in Safe Homes is no longer on probation. WISH was put on probation in the fall of 2015 after a site visit by State Council on Domestic Violence and Sexual Assault officials found the emergency shelter out of compliance on several regulations. more