Dear fellow shareholders,
In honor of our Elders, the Board of Directors has approved a 3rd quarter transfer of $60 million to the Ahtna Hwt’aene (People’s) Trust. Our Elders taught us to be prepared for what might happen (‘Nts’e tkonii da ‘uzolyuun). Our ancestors knew they had to stock caches along hunting and trapping trails if they were going to survive hard times. This transfer will help us to prepare for the future and ensure our ability to pay stable, non-taxable distributions to shareholders for generations. These funds represent a permanent fund, similar to the permanent fund of the State of Alaska, where a percentage of the earnings will be provided to shareholders every year.
The Trust was established in early 2015 with an initial contribution of $3.4 million from Ahtna’s investment portfolio. The Ahtna, Incorporated Earnings Distribution Policy sets guidelines for distributing earnings, with ten percent each year being distributed to the Trust.
The Trust provides significant tax savings to shareholders and the corporation by reducing current and future federal income tax liability.
This transfer does not represent a dividend being declared in the 3rd quarter of 2022, but it does lay the foundation for future dividend distributions. Dividends are announced on the Ahtna website and Facebook page prior to distribution.
We are building the Trust with long-term stability and shareholder benefits in mind. I would like to thank and recognize the Board and management for their foresight and commitment to Ahtna’s mission of responsible economic growth for future generations of Ahtna people.
Ken Johns, Chairman