The trustees of the CIRI Elders’ Settlement Trust have approved the 2015 Elders’ Trust distribution schedule, with payments scheduled for March 13, June 12, September 11 and December 11. The trust mandates quarterly payments of $450 per eligible Elders 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 these dates, are eligible to receive payments, and need to do nothing but keep a current mailing address on file.
A first quarter 2015 dividend in the amount of $8.84 per share (or $884 per 100 shares) will be mailed to shareholders with a valid address on file with CIRI on Tuesday, March 31, 2015. 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.
The deadline for signing up for direct deposit or changing an existing direct deposit instruction is 3:00 p.m. on Monday, March 2, for the March Elders’ Trust distribution, and 3:00 p.m. on Monday, March 16, for the first quarter dividend. Direct deposit forms are available from the Shareholder Relations Department, and may also be printed from CIRI’s website here. To cancel direct deposit, please submit a signed, written request prior to 3:00 p.m. on March 5 for the March Elders’ Trust distribution, and 3:00 p.m. on March 23 for the first quarter dividend.
Checks and direct deposit vouchers for the March Elders’ Settlement Trust distribution will be mailed to the address CIRI has on record as of 3:00 p.m. on Thursday, March 5, and first quarter dividend checks and vouchers will mail 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 from CIRI’s website 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 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.
To receive dividends faster, sign up for direct deposit. Direct deposit forms are available from shareholder relations and may also be downloaded here. To cancel direct deposit, please submit a signed, written request to shareholder relations.
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.
Resource Revenue Distribution
The CIRI Board has approved April 2 as the date for this year’s resource revenue distribution. The yearly amount of the resource revenue distribution is calculated shortly after CIRI’s annual audited financial statements are approved. As required by ANCSA, resource revenue payments associated with at-large shares are paid directly to the shareholder, while resource revenue payments associated with village class shares are paid to the underlying village corporation.
Once available, a table containing the amounts for each type of payment CIRI expects to issue to shareholders in 2015 will be posted on CIRI’s website.