First Quarter Distribution
First quarter payments from the CIRI Settlement Trust (CST) Distribution Fund, in the amount of $10.01 per CIRI share (or $1,001 per 100 shares), were mailed or directly deposited on Thursday, March 31, to all CST beneficiaries who owned CIRI stock and had a valid mailing address on file with CIRI as of Monday, March 22.
Resource Revenue Distribution
For Shareholders who owned at-large shares and had a valid mailing address on file, resource revenue payments of $11.6955 per share (or $1,169.55 per 100 shares) were mailed or directly deposited on April 1, 2002. 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 (ANCSA). Information on the type of stock owned is available in the Qenek portal. Resource revenue payments are made in accordance with Section 7(j) of ANCSA, which directs the sharing of resource revenues among the 12 regional corporations within the state of Alaska.
Other 2022 Distributions
The dividend policy adopted by the CIRI Board of Directors in 2007 set total CIRI dividend payments to Shareholders in any given year at 3.5% of the total Shareholders’ equity, calculated as of Dec. 31 of the prior year. After Shareholders approved the creation of the CIRI Settlement Trust (CST) in 2019, the Board replaced that dividend policy in favor of contributing the amounts that CIRI would have issued as dividends to the Distribution Fund of the CST, with the CST trustees agreeing to distribute the contributed amounts to CST beneficiaries who were Shareholders of CIRI. Beginning in 2020, annually, the CIRI Board has recommended a CST Distribution of 3.5% of the previous year’s ending Shareholders’ equity balance.
We are pleased to announce that CIRI’s prior-year financial statements have been completed, allowing 2022 distribution amounts to be calculated. The table below has been prepared to assist Shareholders with planning and contains the approved dates and amounts for all distributions expected to be issued in 2022. The table is also available in Qenek.