The independent accounting firm retained to audit CIRI’s prior-year financial statements and confirm their accuracy has completed its audit, allowing the amounts of the 2015 fourth quarter dividend and resource revenue distribution to be calculated and announced. A schedule containing the dates and amounts for each type of payment CIRI expects to issue to shareholders in 2015 has been updated and can be viewed here.
On March 31, CIRI will mail or directly deposit a first quarter dividend of $8.84 per share (or $884 per 100 shares) to all shareholders with a valid mailing address on file as of 3 p.m. Monday, March 23. If you participate in direct deposit, your payment will be electronically transmitted to your designated account by 6 p.m. Alaska Daylight Time on March 31.
If you own at-large shares, you will also receive a resource revenue payment in the amount of $15.4133 per share, or $1,541.33 if you own 100 shares. Resource revenue checks will be mailed or directly deposited on Thursday, April 2, to all shareholders with a valid mailing address on file as of 3 p.m. March 23. If you participate in direct deposit, your payment will be electronically transmitted to your designated account by the end of the business day on April 2. Resource revenue payments for shareholders who own village-class shares are mailed directly to their village corporations, as required by the Alaska Native Claims Settlement Act, or 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.
First quarter dividend and resource revenue checks and direct deposit vouchers will be mailed to the address CIRI has on record as of 3:00 p.m. on Monday, March 23. 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 on the CIRI website. 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 here, 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 firstname.lastname@example.org 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 or at your local post office.
Although the deadline for signing up for direct deposit or changing an existing direct deposit instruction for the first quarter and resource revenue distributions has passed, it’s not too late to sign up for direct deposit for future distributions. In addition to receiving their dividends faster, shareholders who participate in direct deposit are eligible to participate in $500 quarterly prize drawings. Visit here for details.
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.