$4.3 Million: New Calista Corporation Shareholder Dividend Record
(Anchorage, Alaska) – The Calista Corporation Board of Directors voted at its February 22 meeting to approve a Shareholder dividend distribution totaling $4.3 million to Shareholders of record dated March 29, 2013. Total distribution of Shareholder dividends will exceed $19.9 million since inception. This is the sixth consecutive yearly dividend of eight total Shareholder dividends. Each dividend has increased from the previous distribution.
Calista has one of the largest populations of Shareholders among the Alaska Native Corporations at more than 12,000 individuals. This distribution equates to $3.25 per share, an eight percent increase from 2012. Checks are expected to be mailed out by the close of business Monday, April 15.
“Calista Corporation, like other ANCSA corporations, has unique requirements to operate as a business, work to benefit our region and also improve the socio-economic lives of our Shareholders,” said Calista Corporation Board Chair Willie Kasayulie. “The Calista region has some of the highest energy rates, food and transportation costs, and highest unemployment rates in the nation. Operating as a disadvantaged business in the federal contracting arena is crucial in allowing us to benefit our region while also providing cost-effective services for the government.”
In 2012 Calista provided a Shareholder dividend totaling $3.99 million. That year Calista also provided a distribution of more than $550,000 through the Shareholder-approved Elders Benefit Program. Additionally, $450,000 was donated to key regional and state organizations including the Bethel Senior Center, Emmonak Women’s Shelter, Yuut Yaqungviat flight school in Bethel, search and rescue teams, a donation of $270,000 for the scholarship program and other organizations.
Pursuant to the Alaska Corporations Code, this Shareholder dividend distribution is made entirely from Calista’s paid-in capital account. Because the distribution was made from the paid-in capital account the distribution is non-taxable to Shareholders.
Posted: February 25, 2013