FOR IMMEDIATE RELEASE
February 28, 2017
Calista Corporation Declares $5.9 Million Spring Dividend
Impact to YK Delta: $3.6 Million
(Anchorage, Alaska) - Calista Corporation's Board of Directors approved recently the first dividend of 2017. This spring dividend totals $5.95 million, an increase of more than five percent from the previous year. Calista has declared two dividends each year since 2014, for a total of 15 dividends since inception. The total distribution of all Calista Shareholder dividends is $47.1 million, with 58 percent of that total declared since 2014.
Dividends are distributed by share, with the average Shareholder owning 100 shares. Calista has one of the largest populations of Shareholders among the Alaska Native Corporations, with approximately 13,000 individuals. This spring dividend equates to $4.47 per share. The distribution is expected to be released for direct deposit and mailed out by the close of business Saturday, April 15.
Calista Corporation Board Chair Margaret Pohjola (poi-YO-la) says, "Currently 62 percent of Shareholders live in the Calista region. Over $3.6 million will reach the Yukon-Kuskokwim Delta."
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 distribution in 2014. This is an investment account created to provide a perpetual source of dividends not reliant on business operations. Elders' Benefit Distributions are for original Shareholders at least 65 years old. The first distribution was made in 2008 and have been declared yearly in December.
Enrollment for eligible Descendants of original Shareholders is currently underway. Calista currently estimates that in October the Board will consider a resolution to accept verified enrollment applications. Beginning December 1, shares will be issues and the new Shareholders will be eligible for voting, dividends and Board candidacy. Enrollment details are at www.calistacorp.com/enroll.
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 to its Shareholders and Descendants. Since inception more than $47.1 Million in dividends and $5 Million in Elders' Benefit Program distributions to its Shareholders.
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, and telecommunications. Calista can be found on Facebook and Twitter.