Published October 2019
As part of our commitment to providing for the economic well-being of our shareholders, Ahtna has distributed an annual shareholder dividend since 2009. Since 2013, Ahtna has distributed over $8.5 million in shareholder dividends and $760 thousand in distributions targeted specifically for our Elders.
Will there be an Ahtna shareholder dividend distribution this year?
In the event a dividend distribution is declared, a distribution date will be announced via Ahtna’s Facebook page on November 8.
Why was the Settlement Trust established?
In 2013, the Ahtna Hwt-anene (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.
Why is it important to keep my contact information updated?
Keeping your contact information current means annual dividends are delivered as soon as possible and you are informed about other important services. Shareholder Services publishes quarterly updates on Facebook of those we are missing valid addresses for. In the event a shareholder dividend is declared we will use the address or direct deposit information we have on file as of Friday, November 1. Please visit this link to see if you or someone you know is on the list of those we have received returned mail for: www.ahtna.com/shareholders/missing-address-list.
How do I update my mailing address?
You can now easily update your contact information on the shareholder portal at MyAhtna.com. To register for the portal you will need your social security number or your shareholder identification (ID) number, which can be requested from Shareholder Records. Visit the Ahtna website and click on the “MyAhtna” link under the “Shareholders” tab, or type “MyAhtna.com” into your browser to get started. If you experience any problems when using MyAhtna, you may find an explanation in the troubleshooting document, which is accessible on the MyAhtna sign-in screen or, if you are already signed in, by clicking on the link under your name on the top right-hand side of the screen. As always, Shareholder Services is happy to assist. Contact us by calling (907) 822-3476 or emailing email@example.com.
How can I receive my dividend sooner?
Shareholders are encouraged to use direct deposit, the fastest and most reliable method to receive dividends. By choosing direct deposit, shareholders receive funds a week or more earlier than by mailed check. Risk of lost or stolen check is also eliminated and signing up is easy and convenient. Direct deposit forms can be found on the Ahtna website at www.ahtna.com/shareholders/shareholder-services/. Just click on the “Shareholders” tab at the top of the page and select “Services and Forms.”
What is a custodian and how is one appointed?
A custodian is an adult who has been appointed to hold Ahtna shares belonging to a minor (under 18 years old) who has received the shares through gift, inheritance, or issuance of Class L stock. Custodians for minor shareholders are usually nominated by the shareholder who gives the Ahtna shares to the minor, or by the person who applies on the minor’s behalf to receive inherited or Class L shares. The form for nominating a custodian can be found on the “Services and Forms” page of the Ahtna website. A court may also appoint a custodian for a minor’s shares when deciding custody or appointing a guardian for the minor. If no custodian has been appointed or if there is a dispute, Ahtna will appoint a custodian for the minor’s shares following the priority set out in Alaska law.
Are Ahtna dividends taxable?
Any 2019 Ahtna shareholder dividend or Elder distribution would be non-taxable. Dividends began being distributed from the Trust in 2018 which allows them to be non-taxable. You will not receive a 1099 or be required to report the shareholder or Elder distribution to the IRS unless you received a 7(j) distribution (at-large checks). Qualifying Class A2 (at-large) shareholders who receive 7(j) distributions of $600.00 or more will receive a 1099 and must report that amount to the IRS.
Can my dividend be garnished?
ANCSA stock and dividends are not generally subject to judgment or garnishment. But ANCSA provides exceptions to this rule for a court decree of divorce, child support, or spousal support. In addition, the IRS has a policy that it has the authority to garnish ANCSA corporation dividends.
When will Ahtna garnish my dividend?
Ahtna will only garnish your dividend if it receives a court order from the State of Alaska or notice from the IRS. An administrative order from the Child Support Services Division is not sufficient. Out-of-state orders must be accompanied by registration and an Alaska court order to be honored.
Can my Settlement Trust distributions be garnished?
Settlement trust distributions are generally treated in the same manner as dividends; they are generally not subject to judgment or garnishment. There is generally greater protection from garnishment by court order. Child support orders will not garnish distributions unless they specifically call out settlement trust distributions. Note, child support orders in the State of Alaska usually include settlement trust distributions. In addition, the IRS has a policy that it has the authority to garnish ANCSA corporation dividends.