Oil Patch Bits: Calista Corp. announces special elder distribution

Calista Corp. said Dec 14 that its board of directors has approved a special distribution for elder shareholders in the amount of $300. Checks were mailed Dec. 15.

“Elders carry additional financial burdens, particularly in this economy,” said Art Heckman, Calista Corp. chairman of the board. “We must support our Elders when possible since their wisdom of the past holds a key to the future.” An elders’ benefit program was approved at the 2007 Calista annual shareholders meeting. Approximately 62 percent of shareholders present or by proxy voted in favor of a program to honor and financially benefit Calista Elders.

To qualify, individuals must be at least 65 years of age as of Dec. 3, 2010, be an original Calista shareholder, and currently living. The checks will automatically be mailed to all qualifying shareholders. This unique distribution is made entirely from Calista’s capital account, also known as the Alaska Native Fund.