7(i) Dividend Distribution
Village corporations and individual Class B Shareholders will receive their portion of Koniag’s shared resource development revenue from other regional corporations on June 29, 2012. This year’s distribution to Class B Shareholders is $13.97 per share of Class B Stock. By statue, Class A Shareholders do not receive this distribution because these funds are paid to their respective village corporations.
The 7(i) distribution stems from a revenue sharing provision of the Alaska Native Claims Settlement Act (ANCSA). Section 7(i) of ANCSA requires each regional corporation to share 70 percent of its resource development revenues among all of the other regional Native corporations. Each region’s share is based on its original enrollment number. Each region, in turn, distributes half of the revenues it receives to its village corporations and Class B Shareholders. Resource revenues vary each year.
The deadline to send Change of Address and/or Direct Deposit information updates is June 15, 2012. To request a Direct Deposit form or Change of Address form, or for any questions regarding this distribution, please contact LaToya Lukin at ShareholderRecords@Koniag.com or by phone (907) 486-2530 or Toll Free: (800) 658-3818. The forms are also available on our website at http://www.koniag.com/our-shareholders/records/.
Written By: Alaska Native Tribal Health Consortium & Southcentral Foundation
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