DIVIDEND DEADLINES
Consistent with CIRI's dividend policy, the CIRI Board of Directors declared a second quarter 2008 dividend amount of $8.50 per share.
If you own 100 shares of stock, your second quarter dividend will be $850. All second quarter dividends will be mailed on Monday, June 30. If you participate in direct deposit, your dividend will be electronically transmitted to your account by the end of the business day Alaska Standard Time on Monday, June 30.
TAX REMINDER
As a reminder, these payments are taxable income to shareholders. CIRI is unable to withhold taxes from dividends. Shareholders who anticipate owing tax on their dividends may make quarterly estimated tax payments directly to the Internal Revenue Service themselves. Consult a tax advisor to learn more about making quarterly estimated tax payments or contact the IRS directly. CIRI cannot provide tax advice.
ELDERS' SETTLEMENT TRUST
A $450 payment from the Irrevocable Elders' Settlement Trust will be mailed on Friday, June 13, to eligible original CIRI shareholders who are 65 years of age or older on that date.
The remaining 2008 Elders' Settlement Trust payments are scheduled for Sept. 12 and Dec. 12. The trust mandates quarterly payments of $450 per eligible elder for as long as the Trust has assets available to make the distributions. Original shareholders who are 65 years of age or older and who own at least one share of CIRI stock as of those dates are eligible to receive payments.
The trustees of the Elders' Settlement Trust approved the 2008 distribution schedule for the elders' payments in October. Again for 2008, the trustees set the scheduled payments to occur in the same months as CIRI's quarterly distributions, so as to reduce the number of months that some elders lose their SSI payments because their monthly income exceeds limitations set by the Social Security Administration.
RESOURCE REVENUE PAYMENTS
CIRI will mail or direct deposit Resource Revenue payments in the amount of $10.0349 per share to our at-large shareholders on Friday, April 4. At-large shareholders with 100 shares will receive $1003.49. Resource revenue payments for village shareholders are mailed directly to their village corporations, as required by the Alaska Native Claims Settlement Act (ANCSA). Resource revenue payments are made in accordance with Section 7 (j) of ANCSA, which directs the sharing of resource revenues among the twelve regional corporations within the state of Alaska. Resource revenue payments are not dividends, and are not considered investment income.
More resource revenue payment information
DIRECT DEPOSIT DEADLINES
The deadline for signing up for direct deposit or changing an existing direct deposit instruction for the quarter is 3 p.m. on Monday, June 2. If you wish to cancel direct deposit, you must submit your request in writing, with your signature, no later than 3 p.m. on Monday, June 2.
ADDRESS CHANGES
Dividend checks are mailed to the address CIRI has on record and cannot be picked up at the CIRI office. The deadline for changing your address for the second quarter is 3 p.m. on Friday, June 20.
Shareholders should note that a new automated system implemented by the U.S. Postal Service makes it mandatory for shareholder addresses on record with the CIRI Shareholder Relations Department to match the address that is on file with the Postal Service. If not, your CIRI mail and dividend checks may not reach you.
If your address has changed, send a signed Address Change Form to CIRI. Include a current telephone number so CIRI may contact you if questions come up. If you fail to notify CIRI of your new address before the deadline, and your check is sent to your old address, CIRI cannot reissue that check to you unless it is either returned to Shareholder Relations or a minimum of 90 days has elapsed.
Change of address forms can be mailed to CIRI at P.O. Box 93330, Anchorage, AK 99509, or faxed to (907) 263-5186. All faxed requests should be followed up with a call to confirm it was received. Online forms and information on changing your address or submitting a mail-forwarding request with the U.S. Postal Service are available on the Postal Service web site, and are also available at your local post office. You may also call the Postal Service toll-free at 1-800-ASK-USPS.
