Arctic Directory 2016: Calista Corp. declares record $5.6M spring dividend

Calista Corp.’s board of directors recently approved the spring dividend for 2016, a record $5.6 million. Calista has declared 13 dividends since inception, with five declared since 2014. The total distribution of all Calista shareholder dividends is $38.9 million, with 49 percent of that total declared since 2014.

Calista has one of the largest populations of shareholders among the Alaska Native corporations, with approximately 13,000 individuals. The spring dividend will be approximately $4.23 per share, an 11 percent increase from the previous year. The average shareholder owns 100 shares. Checks are expected to be mailed out by the close of business April 15.

“Calista’s dividends are more than discretionary spending money for our shareholders,” said Calista Corp. Board Chair Margaret Pohjola. “The Yukon-Kuskokwim Delta is one of the most economically challenged regions in the country. Shareholders have shared with us that these dividends are used to purchase gas for use in subsistence activities, food for their families, and supplies for their homes.”

In 2014, Calista made corporate history by declaring two dividends in one calendar year. The spring dividend is determined from shareholder equity. The fall dividend is from the Akilista investment portfolio, which made distributions in 2014 and 2015. This is an investment fund created to provide a perpetual source of dividends not dependent upon business operations.

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