The Aleut Corporation Board of Directors are pleased to announce the Dividend and Elders Benefit amounts for 2020.
- Class A and B shares:
This year’s Dividend will be $8 per share to be paid in 2020. TAC made the decision to pay out the $8 per share dividend to shareholders in two separate, equal installments of $4 each to help alleviate some of the financial burden during these difficult financial times. The first installment will be paid out the 3rd week of April, and the second installment will be paid out in July. - Elders – Voting shareholders 60 years old by March 31, 2020:
The Elders Benefit will be $1,000 to all voting and/or original shareholders who are 60 years or older by March 31, 2020. The Elders Benefit will be paid out at the beginning of October 2020. (Oct 2nd direct deposited)
7(j) Distributions to Class B Shareholders :
7(j) distribution to at-large shareholders and village corporations is $17.71 per share. They are scheduled to be mailed and deposited the 3rd week of April with the first installment of the shareholder dividend. Please have all address changes and direct deposits in by April 3rd.
*7(j) distributions are not dividends and are not declared by the Board of Directors. Resource revenue payments for shareholders who own village-class shares are mailed directly to their village corporations, as required by the Alaska Native Claims Settlement Act, or ANCSA. Resource revenue payments are made in accordance with Section 7 (j) of ANCSA, which directs the sharing of resource revenues among the twelve regional corporations within the state of Alaska.
Direct Deposit Recipients
The first installment of the shareholder dividend and the 7(j) distributions will be paid in April. TAC will email all direct deposit statements to shareholders with an email on file. In an effort to be more environmentally responsible, eliminating mailing of direct deposit statements will also reduce costs of printing and postage expenses. The dividend and distribution amounts are always accessible through the shareholder portal and will be available to print upon request. With the Municipal mandate to hunker down, TAC staff will work diligently and safely to get checks mailed by April 17th. Please email the shareholder department if you have any questions at records@aleutcorp.com.