FOR IMMEDIATE RELEASE
December 8, 2016
Calista Corporation Declares 9th Elders' Benefit Distribution
$325 Provided to Each Original Shareholder Aged 65 Years and Over
(Anchorage, Alaska) - This week, the Calista Corporation Board of Directors approved the ninth consecutive Elders' Benefit Program distribution, totaling over $700,000. Original Calista Shareholders 65 years of age and over by November 8, 2016 will each receive $325. Direct deposits and checks are expected to be distributed by the close of business Friday, December 23.
The total of all Elders' Benefit distributions since inception is $5 million. Separately, Shareholder dividends total $41 million, with 52 percent of that total provided in the last three years.
With approximately 13,000 individuals, Calista has one of the largest populations of Shareholders among the Alaska Native Corporations. There are nearly 2,200 original Shareholders at least 65 years of age, or Elders. That's an increase of 130 individuals from last year.
"More than 60 percent of Calista Shareholders voted to approve the Elders' Benefit Program during an advisory vote in 2007," said Calista Corporation Board Chair Margaret Pohjola. "This distribution is timely as Southwest Alaska experiences its first cold snap of the season."
Calista has distributed two dividends each year since 2014. The spring dividend is based on Shareholders' Equity for the prior three years. The fall dividend is from the Akilista investment portfolio, which made its first distributions in 2014. This is an investment account created to provide a perpetual source of dividends not reliant on business operations. The Elders' Benefit Program made its first distribution in 2008.
Images: Calista Corporation Dividends and Elders' Benefit Distributions
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 approximately 13,000 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 $4 Million in scholarships and since inception more than $46.1 Million in dividends and Elders' Benefit Program distributions to its Shareholders and Descendants.
Calista Corporation is the parent company of more than 35 subsidiaries in the following industries: military defense contracting, construction, real estate, environmental and natural resource development, marine transportation, oil field services and heavy equipment sales, service and rentals. Calista can be found on Facebook and Twitter.