CIRI’s dividend policy, states that the total CIRI dividend payment to shareholders in any given year is equal to 3.50 percent of total shareholders’ equity, calculated as of December 31 of the prior year.
This information is current as of October 10, 2014 and contains information on the 2014 fourth quarter distributions. CIRI’s dividend policy—along with a schedule containing the dates and amounts for each type of payment CIRI expects to issue to shareholders in 2014—can be viewed on the CIRI website.
A fourth quarter dividend in the amount of $9.80 per share (or $980 per 100 shares) will be mailed on Wednesday, December 10, 2014. If you participate in direct deposit, your payment will be electronically transmitted to your designated account by 6 p.m. Alaska Standard Time on December 10.
The fourth quarter CIRI Elders’ Settlement Trust payment is scheduled to mail on Friday, December 12, 2014. Eligible Elders who have their CIRI dividends directly deposited will have their trust payments electronically transmitted to the same account by 6 p.m. Alaska Standard Time on December 12. Original shareholders who are 65 years of age or older and who own at least one share of CIRI stock as of December 12 are eligible to receive the $450 payment. The trustees have not yet set the 2015 schedule of Elders’ payments, but are expected to do so in the near future. Once approved, those dates will be announced in the newsletter and on the CIRI website.
Direct Deposit Deadlines
The deadline for signing up for direct deposit or changing an existing direct deposit instruction for the fourth quarter distributions is 3:00 p.m. on Monday, November 24. Direct deposit forms are available from the Shareholder Relations Department, and may also be printed from CIRI’s website at www.ciri.com. To cancel direct deposit, please submit a signed, written request prior to 3:00 p.m. on Tuesday, December 2.
Checks and direct deposit vouchers for the fourth quarter distributions will be mailed to the address CIRI has on record as of 3:00 p.m. on Tuesday, December 2. Checks cannot be picked up at the CIRI office. Please be aware that if you fail to notify CIRI of a new address before the specified deadlines and your check is sent to your old address, CIRI cannot reissue that check to you unless it is either returned to us, or a minimum of 90 days has elapsed. Please also note that if the address on your CIRI records does not match the address that you have on file with the United States Postal Service, your CIRI mail—including dividends—may not reach you.
A list of shareholders who do not have a current mailing address on record is continually updated and may be found here. If your address has changed, be sure to send a signed address change request to CIRI and be sure to also update your address with the United States Postal Service. CIRI address change forms can be downloaded and printed from CIRI’s website at www.ciri.com, or you may send a signed, written address change request that includes a current telephone number. Address change forms can be mailed to CIRI at PO Box 93330, Anchorage, AK 99509, scanned and emailed to email@example.com or faxed to 907-263-5186; however, if faxed, please call Shareholder Relations as soon as possible to confirm receipt. Forms and information on changing your address or submitting a mail-forwarding request with the U.S. Postal Service are available at www.usps.com, at your local post office or by calling 1-800-ASK-USPS.
As a reminder, CIRI does not withhold taxes from distributions; however, shareholders who anticipate owing tax on their distributions have the option of making quarterly estimated tax payments directly to the Internal Revenue Service themselves. To find out more about applicable federal and state tax requirements or making quarterly estimated tax payments, please consult with a tax advisor or contact the IRS directly.