Your Questions – Answered! Spring 2022 Distribution
Tuesday, April 5, 2022
Sealaska’s spring 2022 distribution will be announced on Friday, April 8. Distributions are just one of many benefits Sealaska provides to shareholders and descendants, including educational and professional development programs like shareholder and workforce development opportunities; vocational training, scholarships and internships; and donations to community and cultural programs.
Answers to frequently asked questions about the distribution process and timeline are below. Don’t see the answer you’re looking for? Contact us at corpcomm@Sealaska.com and we’ll track down the information you need.
Q: What is the spring distribution schedule?
- Friday, April 8 Distribution Announced | View pending distribution amount at MySealaska.com.
- Friday, April 8 Record Date | Last day to make changes to stock, gift stock, enroll, process estates or transfer shares.
- Monday, April 18| Last day to change shareholder banking or mailing information.
- Friday, April 22 | Date of distribution
Q: How are Sealaska distributions calculated?
All shareholders (Class A, B, C, D, E, L) receive payments from Sealaska business operations as well as the Marjorie V. Young Shareholder Permanent Fund (MVY). Beginning with the fall 2021 distribution, payments from operations and MVY were routed through the newly established Sealaska Settlement Trust.
Urban and At-Large shareholders (Class B, C) receive an ANSCA Section 7(i) payment as well. 7(i) payments are not eligible to be routed through the Sealaska Settlement Trust and will come directly from Sealaska as they always have. For Class B and C shareholders, this means they will receive two separate payments — one from Sealaska operations and the MVY shareholder permanent fund made via the settlement trust, and one 7(i) payment from Sealaska.
Q: Why do Urban and At-Large shareholders (Class B, C) get additional money?
All shareholders, directly or indirectly, benefit from Section 7(j) of the Alaska Native Claims Settlement Act (ANCSA). ANCSA Section 7(i) requires that all ANCSA corporations share 70% of their revenues from natural resource development with one another. This provision was created because some regions have more lucrative natural resources than others. Section 7(j) requires that 50% of the shared resources Sealaska receives from other ANCs are distributed equally between the 10 Southeast village corporations in our region and our Urban (Class B) and At-Large (Class C) shareholders.
Holders of Class B and C stock are not shareholders of village corporations, so they receive their 7(j) payments directly from Sealaska. It is up to the village corporations to decide how to use their ANCSA Section 7(j) payments, which can include dividends or other benefits.
*Class “E” shareholders (Elders) and Class “L” shareholders (Leftouts) do not receive ANCSA Section 7(j) payments.
Q: Why do Descendant and Leftout shareholders receive a smaller amount than other shareholders?
The difference is that they do not receive ANCSA 7(i) payments. Both of these types of shareholder stock, along with Elder stock, were created after ANCSA and are not eligible for ANCSA 7(i) payments.
Q: What is ANCSA Section 7 (i) and (j)?
Under ANCSA the 12 regional corporations share a portion of natural resource revenues. This is known as the ANCSA Section 7(i) revenue sharing agreement. Payments from Section 7(i) are called Section 7(j) payments.
Q: How are ANCSA Section 7 (i) and (j) Payments Made?
- Class A— Under ANCSA, Class A (Village) shareholders do not receive payment. The payment is directed the village corporations in the region, which decide how to use funds.
- Class B— Under ANCSA, Sealaska makes direct payment to shareholder.
- Class C— Under ANCSA, Sealaska makes direct payment to shareholder.
- Class D— Under 2007 shareholder vote, Class D shareholders do not receive payment.
- Class E— Under 2007 shareholder vote, Class E shareholders do not receive payment.
- Class L— Under 2007 shareholder vote, Class L shareholders do not receive payment.
Q: How much is my check?
Sealaska shareholders who have registered with MySealaska.com can view pending payments when a distribution is announced. The spring 2022 announcement will be made on Friday, April 8.
Q: Will my distribution payment be lower because of the settlement trust?
The Sealaska Settlement Trust will not change the amount of the distribution. Distribution amounts are determined under the same formula that has been in place for many years. The major benefit of the settlement trust comes from the fact that distributions made via the Sealaska Settlement Trust are not subject to federal income tax. (ANCSA Section 7(j) dividends are still subject to federal tax.)
Q: When will shareholders receive a payment through the Settlement Trust?
Shareholders started receiving payments through the settlement trust in the fall of 2021. The spring 2022 distribution is expected to reach shareholders with direct deposit on April 22; shareholders who receive paper checks will receive them in the mail a week to 10 days later.
Payments from Sealaska operations and the Marjorie V. Young Shareholder Permanent Fund will pass through the settlement trust. For example, if you receive $100 in payments from operations and MVY, you will receive $100 from the Sealaska Settlement Trust.
If you have additional questions about the Sealaska Settlement Trust, a detailed Q&A is available here.
Q: Why is the ANCSA 7(j) payment low this time?
Commodity pricing is affecting the income of Native corporations, so we are seeing a lower amount go into the natural resource revenue sharing pool.
Q: I use the MySealaska app on my mobile device, but only see one pending distribution amount.
The MySealaska app is no longer supported, and is not available on Google Play and the Apple app store. The 2022 spring distribution is not displaying properly on the app because it was not designed to display distributions associated with Sealaska’s new settlement trust. If you are still using the app on your mobile device, please note that the phone app has been replaced by the mobile website. Please open a browser on your phone, go to MySealaska.com and log in.
Q: My check is a lot lower than usual. I thought the Sealaska Settlement Trust was supposed to save money. What happened?
The Sealaska Settlement Trust will save shareholders money because distributions made as a result of earnings from Sealaska’s business operations and earnings on its investments will be routed through the trust and will no longer be subject to federal income tax.
If you are a Class B or Class C shareholder, though, you will probably notice that your distribution this fall is lower than normal. This has nothing to do with the Sealaska Settlement Trust. Payments from ANCSA Section 7(j) are down considerably due to the impact the pandemic had on commodities prices like oil, natural gas and certain minerals. Section 7(j) payments come from the natural resources revenue earned by other Alaska Native corporations and shared collectively under ANCSA Section 7(i). With prices for resources produced by other ANCs on the decline, we can expect to see payments from ANCSA Section 7(j) decrease as well.
News Search
59 results found
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Sealaska is announcing a Fall 2025 distribution totaling $11.8 million, to be issued to shareholders on Thursday, November 13. The board of directors approved the distribution at its meeting on Friday, November 7. The upcoming distribution includes $2.9 million in dividends from Sealaska’s operations, $3.6 million from the Marjorie V. Young (MVY) Shareholder Permanent Fund, and $5.3…
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Posted 5/23/2023
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Posted 4/4/2022
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Sealaska shareholders approved a resolution to establish the Sealaska Settlement Trust by a margin greater than three to one during the 2021 shareholder election The trust frees Sealaska shareholders from paying federal income tax on their dividends. It will also reduce Sealaska’s tax obligation to the federal government in the future. Sealaska will work to ensure the trust is…
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Posted 8/12/2021
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Sealaska shareholders approved a resolution to establish a settlement trust for Sealaska by a margin greater than three to one during the election that concluded Saturday, June 26. The trust, which is similar to those established by dozens of other Alaska Native regional and village corporations, will free Sealaska shareholders from paying federal income tax on their dividends.
Posted 8/9/2021
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What does the Tlingit, Haida and Tsimshian way of life look like through your lens? Show us in a snapshot during this year’s #SealaskaWayOfLife photo contest! Sealaska is dedicated to doing our part to improve ocean health and protect our way of life. Over the past six years, we’ve advanced our twin goals of economic prosperity and environmental protection by investing in a range of…
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Posted 6/7/2021
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Here it is, shareholders – the moment you’ve been waiting for! (That is, if you voted your proxy by the early-bird deadline of Friday, June 4.) Winners of the early-bird voting incentive prizes are listed below. It’s not too late to get in on the twin benefits of being involved and active in your company and being eligible for prizes. Each shareholder who returns a valid proxy by 5 p.m.
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Posted 5/13/2021
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Posted 5/7/2021
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Posted 4/1/2021
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As Sealaska’s board finalizes the spring distribution to Sealaska shareholders in a meeting on Friday, April 2, the company’s business operations continue a trend of increasing profitability. Thanks to the incredible dedication and skill of so many at Sealaska, several of our businesses actually saw record financial results in 2020. Their efforts enabled us to keep our employees safe…
Posted 1/28/2021
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Lia Heifetz and Matt Kern took the plunge and started Barnacle Foods in 2016, knowing that kelp farming and the mariculture industry was just getting started. But their vision and confidence in a people- and planet-centered business philosophy are bringing others along with them. One of the farms Barnacle Foods sources kelp from today is Seagrove Kelp Co. on Prince of Wales Island.
Posted 12/20/2020
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Posted 11/19/2020
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Close your eyes. Clear your mind. When you hear the word ‘scientist,’ who do you envision? Is it an ‘old guy,’ with ‘crazy hair’ in a ‘lab coat’ with ‘glasses’? Is he ‘white’? If those are the words you used, you’re just like the kids in Hydaburg City School District used to be. That is, before they met Wendy F. Smythe and learned a new way to think of themselves and to value their…
Posted 10/2/2020
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Sealaska established a $10 million language endowment to focus on the revitalization of Tlingit (Lingít), Haida (X̱aad Kíl) and Tsimshian (Sm’algya̠x) languages. In Alaska, very few birth speakers of these traditional languages remain. All are older than 70, and a majority are 80 or older. The group includes four birth speakers of Sm’algya̠x, three birth speakers of X̱aad Kíl…
Posted 9/18/2020
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In the next 50 years, the world’s population will grow by nearly 3 billion to a total of 10.5 billion people, according to the United Nations. Most of these billions of people will be born into poverty. How will our planet, which is not growing, support these children and families? Access to healthy food and clean water will become even more important in the years to come, and yet humans are…
Posted 7/27/2020
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JUNEAU, Alaska – On Friday, July 24, 2020, the Sealaska board of directors approved $300,000 in grants to support the revitalization of the Tlingit, Haida and Tsimshian traditional languages. This is the first major investment made possible by the $10 million language endowment that was authorized by the board in November 2019. “Our indigenous languages hold our people’s ancient…
Posted 7/7/2020
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Sealaska wants to see what the Tlingit, Haida and Tsimshian way of life looks like through YOUR lens, and we invite you to participate in the “Our Way of Life” photo contest! This is an opportunity for Sealaska to not only engage with you directly, but also gain perspective on how our audience views our Native way of life. Creativity and freedom of interpretation is welcome and encouraged!
Posted 6/4/2020
Posted 6/4/2020
It is natural that Morgan Howard sees the future of Sealaska – as well as its challenges – through the lens of communications. As founder of Morgan Howard Productions, a communications company specializing in video, web, and social media, he has been telling the stories of Alaska Native people and Alaska Native Corporations (ANCs) since the mid-1990s. Howard said he believes that…
Posted 5/29/2020
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For 12 years, Angela Michaud’s dual-track career in health care and executive leadership has prepared her to serve on the Sealaska Board of Directors. Her lifetime connection to her Tlingit culture and deep connections to Southeast Alaska, especially Ketchikan and Hoonah, have prepared her to serve her people. Michaud was born and raised in Ketchikan. She is Tlingit Chookendei and T’…
Posted 4/21/2020
Posted 4/21/2020
In early April 2020, Sealaska’s board of directors approved a $55,000 donation to the Yakutat Tlingit Tribe (YTT) to support the construction of a crime victim shelter in Yakutat. The funding builds on a 2019 Safe Shelter grant from the U.S. Department of Justice (DOJ), which allowed YTT to utilize $691,768 of grant funds set aside for tribal entities from the DOJ Office for Victims of Crime (OVC).
Posted 1/30/2020
Posted 1/30/2020
Stephanie Jenkins is one of 62 part-time students who were awarded Sealaska scholarships in 2019. Last year was the first year the scholarship program included part-time students. When Stephanie Jenkins first applied for a Sealaska scholarship in 1998, she had no idea she was opening a door to her Tlingit culture and identity. This identity ultimately allowed her to see herself as a…
Posted 12/18/2019
Posted 12/18/2019
Tlingit cultural icon David Katzeek was honored by the Juneau School District Board of Education and issued a legislative citation from the 31st Alaska State Legislature. Representative Andi Story (District 34) presented Katzeek with the legislative citation. Story says members of the Alaska State Legislature commend Katzeek on his dedication to the revival of Tlingit language and…
Posted 4/23/2019
Posted 4/23/2019
At the end of 2018, Sealaska commissioned an online survey for all shareholders to participate. Thank you to everyone who participated! This study is part of an ongoing effort Sealaska has undertaken since 1981 to ask shareholders their opinions. 2,702 Sealaska shareholders opted to participate, with demographics similar to Sealaska’s overall shareholder base. The surveys were conducted by DHM…
Posted 12/7/2018
Posted 12/7/2018
All around the world at precisely the same time, weather balloons are released and rise to the top of the earth’s atmosphere. Sensors attached to the 5-feet wide balloons take snapshots of the weather every few seconds – temperature, humidity, pressure, and wind speed – as they rise up to 100,000 feet and drift as far as 125 miles depending on wind speeds.
Posted 6/8/2018
Posted 6/8/2018
A letter from Sealaska Chair Joe Nelson discussing the 2018 Celebration theme “Respect: Weigh Your Words” For decades, we have been coming together every other year during Celebration – as Tlingit, Haida, and Tsimshian people. It is a beautiful thing. Over the years, much has changed, and yet, much has stayed the same. Technology changes every few months.
Posted 5/7/2018
Posted 5/7/2018
The bereavement program is a new benefit that can finally be added by Sealaska as a result of the company’s success and steady growth over the last five years. Sealaska’s board of directors announced its approval today of a shareholder bereavement benefit to provide support for its shareholders after the loss of a loved one. This program is a result of Sealaska’s growing financial strength…
Posted 5/10/2016
Posted 5/10/2016
Sealaska has purchased a minority interest in Independent Packers Corporation (IPC), a custom seafood processor located in Seattle, Washington. Sealaska embarked on a strategic plan in late 2012 to restructure operations and improve profitability. The plan focused on re-engineering its businesses to increase operating cash flow from a simplified operating portfolio that is consistent with…
