Sealaska’s board of directors approved a spring distribution to shareholders totaling $16 million. The regional Native corporation reported a second-consecutive year of positive net income.
Sealaska’s sources of income are from company operations, the Marjorie V. Young Permanent Fund and 7(i) revenue sharing from other Native corporations.
Operational dividends are currently low because of the 2013 operational losses, according to Sealaksa. The company said in a statement its strategic plan includes a goal to increase operational income, which will stabilize the dividends to shareholders and begin to consistently grow the amount.