Sealaska Shareholders to Receive $15.5 Million

Sealaska's board of directors approved a fall shareholder distribution totaling nearly $15.5 million, during its board meeting on Nov. 2, 2018.[...]

Sealaska is reporting another year of strong business growth and positive net income for 2018, exceeding its financial performance in 2017, the company’s strongest year on record. Sealaska paid a total of $22.5 million in shareholder distributions in 2017. In just the first half of 2018, more than $23 million was paid in shareholder distributions. Sealaska’s fall distribution payment brings its total 2018 shareholder distribution payment to nearly $40 million. The total payment per share for 2018 is $21.69 for urban and at-large shareholders and $5.40 for village, descendant and elder shareholders.

“The operational success we’ve created over the past five years has stabilized dividends and will allow us to consistently grow dividends for our shareholders,” said Sealaska CEO Anthony Mallott. “This distribution also reflects new income from carbon credit payments, which offers great financial benefit leading to increasing dividends, increases to the Shareholder Permanent Fund and additional shareholder benefits similar to those provided earlier this year.” Sealaska increased its scholarship endowment by $10 million and created a $6 million Deishú Memorial Fund (bereavement benefit) for shareholders in 2018.

“Sealaska’s strategic plan is working, generating income to more than 22,000 shareholders and strengthening our profitability to increase shareholder benefits,” said Sealaska Board Chair Joe Nelson. “Distributions are just one of the many benefits Sealaska provides its shareholders and steady growth allows us to increase investments in other programs we know our shareholders want, like increases in scholarships and the Deishú Memorial Fund,” he said.

I did the math (please correct me) if you just take 15.5 million divided by 22,000 shareholders that is a pay out on average of just $704.54545454545454. Understandably, the payout isn't as simple as x number of $$ divided by Y amount of shareholders.

DISTRIBUTION SCHEDULE
Friday, Nov. 2, 2018 | Record date: the last day to make changes to stock, gift stock, enroll, process estates or transfer shares
Monday, Nov. 12, 2018 | Last day to change shareholder banking or mailing information. Update information on MySealaska.com.
Friday, Nov. 16, 2018 | Distribution occurs

Additional fun fact:

At incorporation, Sealaska enrolled 15,782 Alaska Natives,[3] each of whom received 100 shares of Sealaska stock. Approximately 1,800 additional Alaska Natives have since received Sealaska stock through inheritance of shares or gifting.[2][3] As an ANCSA corporation, Sealaska has no publicly traded stock and its shares cannot legally be sold. [source]

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