Sealaska Achieves $60.7 Million Net Income in 2021
Friday, May 6, 2022
Successful businesses helping to benefit people and planet
Sealaska released its official annual report and financial statements to shareholders on Friday, May 6, 2022, and reported $60.7 million in net income for the year ending Dec. 31, 2021.
The survival of the Tlingit, Haida and Tsimshian people has long depended on a balanced view of the ecosystem inclusive of all living things. Sealaska is designing solutions to some of the planet’s greatest challenges by combining cultural values with modern, market-based and technology-driven insights.
Following this strategy, Sealaska achieved $60.7 million in net income for 2021. Record investment income and continued growth from Sealaska’s ongoing business operations increased 2021 net income by $5 million year-over-year.
The 2021 Sealaska Annual Report celebrates the 50-year anniversaries of the Alaska Native Claims Settlement Act (ANCSA), which created regional corporations like Sealaska when it was signed into law on December 18, 1971, and Sealaska’s incorporation on June 16, 1972.
The report highlights how Sealaska’s role as a land manager and holder of the ancestral lands of the Tlingit, Haida and Tsimshian people has evolved during its 50-year history. Today, Sealaska manages its lands with an emphasis on cultural, community and financial benefit. The report also recognizes some of the company’s formative leaders and highlights individuals currently embodying Sealaska’s vision for community leadership and impact.
Sealaska’s business plan in the coming years is focused on two industries: sustainable seafood and hydro sciences, according to Sealaska President and CEO Anthony Mallott.
“This combination is especially strong for us,” Mallott explained. “Increasing consumer demand for sustainable seafood through attractive, approachable products will reduce demand for foods like beef and pork, which are responsible for high levels of carbon emissions. Our other focus is in hydro sciences, which support the rapidly growing oﬀshore renewable energy sector.”
Since our founding 50 years ago, Sealaska’s purpose has been to generate proﬁts to provide beneﬁts and resources to our shareholders and descendants. We are proud to have created funds and endowments that have supported the dreams and aspirations of thousands of shareholders over the years, and that will continue to do so in perpetuity.
In 2021, Sealaska directed $26.7 million to shareholder benefits and programs. As Sealaska continues to grow and invest in our businesses — where our efforts drive results — operations will play an even larger role in providing shareholder benefits going forward.
Discussing blood quantum with friends and family can be challenging because no matter how you feel about the issue, it often strikes at the very core of who you are or how you would like to be perceived. We believe shareholder-to-shareholder conversations about this issue are critical to deepening understanding. The following questions are provided …
Sealaska announced today that it will award $1.2 million in scholarships to 426 recipients for the 2022-2023 school year. Scholarships were awarded to full- and part-time degree-seeking students as well as students enrolled in vocational-technical programs. Sealaska prioritizes investing in education and is dedicated to supporting Indigenous students seeking to further their education. Sealaska partners …
Sealaska announced Monday, May 23 that the Juneau Community Meeting scheduled to be held Wednesday, May 25 at Centennial Hall in Juneau will now take place as a virtual event only due to rising cases of COVID-19 in Juneau. The City and Borough of Juneau recently updated its recommendations to include indoor masking in Juneau …
Alaska’s primary for the special election to fill our open Congressional seat has begun. This seat was held by the late Congressman Don Young for nearly fifty years – and now, forty-eight candidates are running to fill it. This election will be the first to utilize Alaska’s new voting system. The June primary, for which …
Sealaska shareholders and descendants gathered online for a person-to-person discussion of the company’s resolution on the 2022 proxy that would eliminate the requirement to document blood quantum in order to be eligible to apply for Sealaska descendant shares. The event, held the evening of Monday, May 9, was designed to allow shareholders and descendants to …