Calista board sets 2013 dividend
Shareholder checks to be mailed by April 15
Shareholder dividend distribution totaling $4.3 million was voted on by the Calista board of directors last month.
The Calista Corporation Board of Directors voted at its Feb. 22 meeting to approve a of record distribution to shareholders enrolled as of 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 8 percent increase from 2012. Checks are expected to be mailed out by the close of business 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.
The second largest of the original 13 Alaska Native Corporations, Calista Corporation was established under the Alaska Native Claims Settlement Act of 1971 and represents more than 12,000 shareholders. The Calista region encompasses more than 6.5 million acres and includes 56 villages, which are incorporated into 46 individual village corporations. Since 1994, Calista has provided more than $3.2 million in scholarships and since inception more than $22.3 million in dividends and Elders Benefit Program distributions to its shareholders and descendants.
Calista Corporation is the parent company of 17 subsidiaries, providing services ranging from heavy equipment sales, IT, telecommunications and marketing services, to construction and facility management. Calista can be found on Facebook (www.facebook.com/CalistaCorp and http://www.facebook.com/CalistaCorporation) and Twitter (twitter.com/CalistaCorp).