Sea Lion issues highest dividend among Y-K village corporations
An annual shareholder distribution of $14 per share has was announced last month by Sea Lion Corporation, the Alaska Native Village Corporation of Hooper Bay. This is the highest annual dividend issued by a Yukon-Kuskokwim Delta village corporation this year. Sea Lion distributes its dividends bi-annually, meaning shareholders will receive half of their distribution this May at $7 per share, and an additional equal payout in December. Dividends are dispersed with traditional subsistence in mind; during May so residents can prepare for the busy fishing season, and during December when winter living can be costly.
“We have a great board of directors that really keep their village at heart,” said Myron Naneng, the chairman and president of Sea Lion Corporation. “They work hard to maintain our customs and traditions, while working with the city and Tribal Council of Hooper Bay.”
The corporation serves 621 shareholders and 90 percent of its shareholders live in Hooper Bay – an impressive figure among Alaska Native villages. Sea Lion Corporation has created a diverse business portfolio with real estate investments and business partnerships in industries throughout Alaska that remain strong in spite of the wavering economy. The corporation has also created joint ventures with other village corporations to complete projects that will provide long-term benefits to shareholders and the village of Hooper Bay.
Sea Lion has been working with federal, state and local agencies on environmental studies, including land use plans. One project that has resulted from this work includes creating designated ATV trails to minimize impacts to the tundra and bird habitats. To help shareholders strengthen their way of life, the corporation has also been helping residents learn how to make their homes and local infrastructure more energy efficient.
Sea Lion Corporation will continue to serve its shareholders by providing social services, community infrastructure, economic opportunities, job training and educational funding.
“Our board of directors will continue to find ways to increase our dividends and services to our shareholders well into the future,” said Naneng.