Oil Patch Bits: Calista Corp. declares $5.9 million spring dividend

Calista Corp.’s board of directors approved recently the first dividend for 2017. This spring dividend totals $5.95 million, an increase of more than 5 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 April 15.

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 distributions have been declared yearly in December.

Enrollment for eligible descendants of original Calista shareholders is currently underway. Calista currently estimates that in October the board will consider a resolution to accept verified enrollment applications. Beginning Dec. 1, shares will be issued and the new shareholders will be eligible for voting, dividends and board candidacy. For enrollment details go to www.calistacorp.com/enroll.

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