The Aleut Corporation Board of Directors declared the following dividends for 2016:
- $4 per share to be direct deposited and mailed – July 1st 2016. – All address changes and direct deposits must be done before June 20th.
- $500 Elder Benefit to be paid in November 2016.
(to be eligible for the Elder dividend you will need to be a voting shareholder and 60 years old or older by March 31, 2016)
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.
- 7(j) distribution amounts (*At-Large checks) are $10.50 per share and will be paid out by May 5, 2016.
*If you belong to a village corporation (CLASS A shares), you will not receive the 7(j) distribution from The Aleut Corporation, unless you inherited or were gifted CLASS B shares.
What is the difference between an A-class and B-class Shareholder?
A-Class Shareholders are Alaskan Natives who enrolled pursuant to the Alaska Native Claims Settle Act (ANCSA) as residents of a village in the Aleut Region. Shareholders who own A-Class shares are eligible for Corporation dividends, but they are not eligible for 7(j) distributions. The 7(j) distributions are revenues that the Corporation receives from the sale of natural resources of other ANCSA Regions.
B-Class Shareholders are Alaskan Natives who enrolled pursuant to ANCSA into The Aleut Corporation Region, but are not enrolled in a village corporation in the Aleut Region. B-Class shareholders are most commonly referred to as At-large Shareholders. B-Class shareholders receive an annual 7(j) distribution.