SHAREHOLDER DISTRIBUTIONS
Shareholder distributions are set by the CIRI Board of Directors and distributed by the Distribution Fund of the CIRI Settlement Trust (CST). Distributions are for beneficiaries who are CIRI Shareholders. Currently, CIRI makes an annual contribution to the fund that is equal to 3.5% of the previous year’s ending Shareholders’ equity. Shareholders receive four payments per year from this contribution. We are pleased to announce the audit of CIRI’s 2022 financial statements has been completed, allowing 2023 distribution amounts to be calculated.
First quarter payments from the CST Distribution Fund, in the amount of $9.75 per share (or $975 per 100 shares), were mailed or directly deposited on Friday, March 31 to all CST beneficiaries who own CIRI stock. Distribution dates, amounts and other relevant deadlines for the remainder of 2023 are as follows:
ELDERS DISTRIBUTIONS
Quarterly Elders Fund distributions of $450 are paid to the beneficiaries of the CST who are original CIRI Shareholders and alive and 65 years of age or older on the approved dates of record, providing they either own at least one share of CIRI stock or gifted all their CIRI stock prior to July 31, 2003. First quarter payments from the CST Elders Fund were mailed or directly deposited on Friday, March 10 to eligible Elders. Distribution dates and other relevant deadlines for the remainder of 2023 are as follows:
RESOURCE REVENUE DISTRIBUTION
For Shareholders who owned at-large shares and had a valid mailing address on file, resource revenue payments of $19.4955 per share (or $1,949.55 per 100 shares) were mailed or directly deposited on April 3, 2023. 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.
Whether you receive a check or participate in direct deposit, any time your address changes, you must either update your address in Qenek or send a signed address change request to the Shareholder Relations department. You must also keep your address updated with the U.S. Postal Service. If your CIRI mail is returned as undeliverable, distributions will be held, interest-free, and you do not qualify to participate in any prize drawings until your address is updated.
