Embracing opportunities while honoring our values
Thank you to everyone who turned out for our spring Information Meetings and Annual Meeting of Shareholders! I enjoyed sharing all we accomplished in 2024 and our plans for 2025.
The year is off to a great start: In March, thanks to a breakthrough year in profitability and cash flow for the Company, the CIRI Board announced a Shareholder distribution increase of 14%—the single largest annual increase to Shareholder distributions over the last 10 years combined. Under the previous calculation, Shareholders would have received an annual aggregate distribution equal to $41.67 per share this year. Instead, under the new policy, the CIRI Settlement Trust will issue annual aggregate distributions to Shareholders totaling $45.87 per share.
With the increase in revenues, earnings, cash and assets we experienced in 2024, we are on track to grow and improve our investments and increase profits in 2025. A recent development I’m excited to share is CIRI’s involvement with the Orbital Edge Accelerator program, which integrates cutting-edge startups and investment partners into the rapidly expanding space economy. As satellite and rocket-enabled technologies become increasingly prevalent, investing in the fast-growing space economy has the potential to bring even more prosperity to our company.
While we enthusiastically explore new frontiers, we are just as invested in our work here at home. In July, we will host the Stellar Space Experience program for high-school-age Shareholders and confirmed Descendants. This program gives students with a strong background or interest in STEM subjects a chance to dive deeper into their scientific interests, engage with like-minded peers, and meet and learn from experts in their fields. Research shows that STEM careers boast the most job openings and offer some of the best starting salaries for college graduates. The Stellar Space Experience will provide a supportive and encouraging environment, where participants lay a strong foundation for future success in the dynamic fields of science, technology, engineering and math. We are pleased to host this inaugural program in partnership with Cook Inlet Tribal Council, Higher Orbits Go For Launch! and the Challenger Learning Center of Alaska.
Please join me in congratulating our first cohort of Yah executives, who have successfully demonstrated their foundational knowledge of CIRI and are preparing for their next placements within the CIRI enterprise! Jacinda Mainord (Inupiat) and Lexi Qass’uq Trainer (Cup’ik/Yup’ik) have taken on new projects, honed their executive-level leadership skills and gained in-depth knowledge of CIRI’s business lines, corporate strategy, and ANCSA/mission-critical programs and benefits. We are actively recruiting for our next Yah Program cohort through the end of July, so if you are interested in playing a key role in CIRI’s business operations and future success, I invite you to find out more by visiting the CIRI website.
Within our region, I will be traveling to our Cook Inlet villages and meeting with Tribal leaders to understand their challenges and opportunities. We will continue to convene conversations with regional Tribal leaders and other stakeholders, with the goal of identifying strategies for advancing regional prosperity.
Though the CIRI enterprise has grown to nearly 2,500 employees in 45 states and seven countries, we remain an Alaska Native corporation that is guided by traditional values. We are growing and operating at an ever-higher level to bring prosperity back to our CIRI Family.
Best regards,
Swami Iyer
CIRI CEO
