First Quarter Dividend
CIRI will mail or directly deposit its first quarter 2018 dividend of $8.87 per share (or $887 per 100 shares) by 6 p.m. Alaska Daylight Time on Friday, March 30 to all shareholders with a valid mailing address on file with CIRI as of 3 p.m. Wednesday, March 21.
Resource Revenue Distribution
For shareholders who own at-large shares and have a valid mailing address on file as of 3 p.m. Wednesday, March 21, a resource revenue payment in the amount of $16.3908 per at-large share (or $1,639.08 per 100 shares) will be mailed or directly deposited by 6 p.m. Alaska Daylight Time on Monday, 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 (ANCSA). If you have a Qenek portal account, you may access information on the type of stock owned via the 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 2018 Distributions
CIRI’s dividend policy states that the total CIRI dividend payment to shareholders in any given year is equal to 3.5 percent of total shareholders’ equity, calculated as of Dec. 31 of the prior year. For 2018, the amounts of the first through third quarter dividends were previously calculated and will be $8.87 per share (or $887 per 100 shares). We are pleased to announce that CIRI’s prior-year financial statements have been reviewed, and confirmed, and the amount of the fourth quarter dividend has been calculated at $10.67 per share (or $1067 per 100 shares).
Direct Deposit/Remote Deposit
Shareholders who participate in direct deposit and have a current CIRI mailing address are eligible to participate in quarterly prize drawings. Although the deadline for signing up for direct deposit or changing an existing direct deposit instruction for these distributions has passed, CIRI urges shareholders who receive their dividends in check form to consider either implementing direct deposit or taking advantage of remote deposit. Both options are fast, easy and eliminate the need to drive to the bank and stand in line. Direct deposit forms are available from Shareholder Relations and at ciri.com. (Note: When remotely depositing a check, it’s a good idea to make a note on the check so you don’t attempt to cash it again. If a check is cashed twice, you are legally liable to repay the amount of the overpayment.)
Checks and vouchers are mailed to the address CIRI has on record as of the specified deadline. If your address has changed, be sure to update your address with both CIRI and the U.S. Postal Service. These addresses must match or your CIRI mail may not reach you. When CIRI mail is undeliverable, distributions are held and the shareholder does not qualify to participate in any prize drawings until the address is updated. This is true even if a shareholder has his or her dividends electronically deposited.
If you have a Qenek portal account, you can submit an address change update online via the portal. Alternatively, CIRI address change forms can be downloaded and printed at ciri.com, or you may send a signed, written request that includes a current telephone number. Address change forms and requests can be scanned and emailed to firstname.lastname@example.org, mailed to CIRI at PO Box 93330, Anchorage, AK 99509, or faxed to (907) 263-5186. 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 your local post office.
Please be aware that if you fail to notify CIRI of a new address before a specified deadline 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. 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.
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 IRS themselves. To find out more about applicable federal and state tax requirements or making quarterly estimated tax payments, please consult a tax advisor or contact the IRS directly.