As part of our commitment to providing for the economic well-being of our shareholders, Ahtna has distributed a shareholder dividend every year since 2009. Since 2013, Ahtna has distributed over $21 million in shareholder dividends and another $1.37 million in distributions to our Elders.
Will there be an Ahtna shareholder dividend distribution this year?
The Board of Directors and the Trustees of Ahtna Hwt’aene (People’s) Trust have declared an early partial 2021 shareholder distribution of $13.00 per share to be direct deposited and checks mailed on April 28. If the Board declares another dividend distribution, a distribution date will be announced via Ahtna’s Facebook page in late October-early November.
Why was the Settlement Trust established?
The Ahtna Hwt’aene (People’s) Settlement Trust was established in 2013 to enable 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 10% of annual earnings 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 and events. Shareholder Services publishes monthly updates on Facebook of shareholders who are missing valid addresses. In the event a shareholder dividend is declared, we will use the address or direct deposit information we have on file as of the record date. Please visit page 19 of this issue, or the following link to see if you or someone you know is on the list of those we have received returned mail for:
How do I update my mailing address?
You can 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 Services. 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 help in the troubleshooting document 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 firstname.lastname@example.org.
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 having your check lost or stolen is also eliminated, and signing up is easy and convenient. Direct deposit forms can be found on the Ahtna website at www.ahtna.com/directdeposit.
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 2021 Ahtna shareholder dividends or Elder distributions would not be taxable. Since 2018, dividends have been distributed from the Trust which allows them to be paid tax-free. You will not receive a 1099 or be required to report the shareholder or Elder distribution to the IRS. However, Class A2 (at-large) shareholders who receive 7(j) distributions of $600 or more will receive a 1099 and must report the distribution amount to the IRS.
Can my dividend be garnished?
ANCSA stock and dividends cannot generally be garnished. But ANCSA allows garnishment of dividends when ordered by a court for divorce, child support, or spousal support. In addition, the IRS has a policy that it has the authority to garnish ANCSA corporation dividends for taxes owed.
When will Ahtna garnish my dividend?
Ahtna is required by law to garnish your dividend when it receives an appropriate court order from the State of Alaska or notice from the IRS.
Can my Settlement Trust distributions be garnished?
Settlement trust distributions are generally treated in the same manner as dividends. A court order for child support or similar order will not garnish trust distributions unless the order specifically includes distributions from a settlement trust, but note that child support and other garnishment orders issued by Alaska courts usually include settlement trust distributions. In addition, the IRS has a policy to garnish distributions from a settlement trust for taxes owed.