Anchorage, Alaska – On November 3, 2020, in accordance with the Earnings Distribution Policy that provides the formula that funds the Trust and distributions to shareholders, the Board of Directors and the Trustees of Ahtna Hwt’aene (People’s) Trust formally declared a regular shareholder distribution for 2020 of $15.00 per share. The distribution will be made to all shareholders of record as of October 30, 2020. The dividend distribution is the second highest per share in the history of Ahtna and is a tax-free benefit to shareholders.
In addition, a distribution of $1,500 per eligible Elder as of October 30, 2020 was declared. This is an increase of $500 over last year’s Elder distribution. Since 2009, an Elder distribution has been provided to original Ahtna shareholders that are age 62 and older.
Ahtna recognizes that this has been an extremely difficult year for many, and that the coronavirus pandemic continues to impact its shareholders. The regular and Elder dividend distributions are in addition to the two special dividends of $10 per share that were distributed earlier this year. The dividends declared this year amount to $9 million in total distributions. Since inception, Ahtna has paid out over $34 million to shareholders in the form of regular, special and Elder distributions.
“While COVID-19 has impacted the way Ahtna does business, we are still on track to meet our financial goals for 2020. The diversification of our business operations and dedication of our staff and board has allowed us to weather this year’s unforeseen impacts. It is our hope that this dividend will assist our shareholders during these extraordinary times and help to make their holidays a little brighter,” said Ahtna, Inc. president Michelle Anderson.
Both distributions are scheduled to be mailed December 4th or deposited November 20th for those signed up for direct deposit.
About the Ahtna Hwt’aene (People’s) Settlement Trust
In 2013, the Ahtna Hwt’aene (People’s) Settlement Trust was established to provide a means for Ahtna to pay stable, non-taxable dividends to shareholders in perpetuity. Ahtna made its first contribution to the Trust in 2015 by transferring $3.4 million from Ahtna’s investment portfolio. The Board of Directors Earnings and Distribution Policy sets guidelines for distributing earnings with ten percent in contributions each year going to the Trust.