Calista Corporation Declares $2 Million Shareholder Dividend
Since its inception in 1971, Calista Corporation’s total distribution of shareholder dividends is $33.3 million. Forty percent of that total was declared in the last two years.
"Calista’s most profitable years have been in the last three years," Calista Corporation Board Chair Margaret Pohjola said in a press release. "As Calista works to continue providing benefits to our shareholders, we must be mindful of state and federal budget challenges."
Most recently on October 15, Calista Corporation’s Board of Directors approved the second dividend for 2015. The Akilista Dividend totals $2 million, a 23 percent increase from the previous year. Calista has declared 12 dividends over the past 44 years, including two this year and two in 2014. Combined, the 2015 shareholder dividend distributions total $7 million.
Calista has one of the largest populations of shareholders among the Alaska Native Corporations, with approximately 13,000 individuals. This Akilista Dividend equates to $1.51 per share, with the average Shareholder owning 100 shares. Checks are expected to be mailed out by the close of business Friday, November 13.
Last year marked the first year in Calista’s history that two dividends were distributed in one calendar year. The spring dividend is based on unaudited financial results from the prior year. The fall dividend is from the Akilista investment portfolio, which made its first distribution in 2014. This is an investment fund created to provide a perpetual source of dividends not reliant on business operations.
The second largest of the original 13 Alaska Native Corporations, Calista Corporation was established under the Alaska Native Claims Settlement Act of 1971 and represents approximately 13,000 Shareholders. The Calista region encompasses more than 6.5 million acres and includes 56 villages, which are incorporated into 46 individual village corporations. Since 1994, Calista has provided more than $3.5 million in scholarships and since inception more than $36.9 million in dividends and Elders’ Benefit Program distributions to its Shareholders and Descendants.
Calista Corporation is the parent company of more than 35 subsidiaries in the following industries: military defense contracting, construction, communications, real estate, environmental and natural resource development, and information technology and media services.
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