Oil Patch Bits: Calista Corp. provides first-ever fund dividend

Calista Corp.’s board of directors has approved the first-ever Akilista Fund dividend. The total distribution is $1.62 million. This investment fund distribution supplements dividends based on Calista’s operations. Including Calista’s operational dividend mailed in April, the total dividend for the year is $6.27 million.

At 12,900 individuals, Calista has one of the largest populations of shareholders among the Alaska Native corporations. This Akilista Fund distribution equates to $1.22 per share. Checks were expected to be mailed out by the close of business Nov. 14.

“Calista’s Board of Directors established this investment fund to provide a perpetual and sustainable source of dividends for our Shareholders,” said Calista Corp. Board Chair Willie Kasayulie. “The Board and Calista management made a specific goal to provide Shareholders with two dividends per year.”

In early October, Alaska Business Monthly’s annual Top 49ers luncheon recognized Calista as the eighth largest Alaskan-owned business based on revenues. Since inception, Calista has provided more than $26.2 million in dividends including this distribution.