Oil Patch Bits: Calista Corp. sets record shareholder dividend

Calista Corp. said its largest shareholder dividend in corporate history was approved by its board of directors.

The 2014 shareholder dividend distribution totals $4.65 million and is the ninth dividend since inception. The total distribution of shareholder dividends is $24.6 million, with nearly 53 percent of that total provided in the last three years.

With more than 12,000 individuals Calista has one of the largest populations of shareholders among the Alaska Native corporations. This distribution equates to $3.50 per share, an 8 percent increase from 2013. Checks are expected to be mailed out by the close of business April 15.

“By diversifying our operations and targeting acquisitions Calista is navigating the rough economic climate,” said Calista Corp. Board Chair Willie Kasayulie. “While the average business generally focuses on fiscal results, as an ANCSA corporation we must also balance socio-economic support for our Shareholders and our region.”

In April 2013 Calista provided a shareholder dividend totaling $4.3 million. In December 2013 Calista also provided a distribution of more than $590,000 through the shareholder-supported Elders’ Benefit Program. Additionally, more than $200,000 was donated to key regional and state organizations including the Bethel Senior Center, Emmonak Women’s Shelter, search and rescue teams, plus an additional donation of $300,000 for Calista Heritage Foundation’s scholarship program.