CIRI will distribute resource revenue payments to its at-large shareholders in the amount of $18.1996 per share, or $1,819.96 if you own 100 shares. While this amount is larger than in recent years, CIRI cautions shareholders that next year’s resource revenue payment could be significantly reduced by as much as 50 percent.
This reduction is due to the decrease in global commodity prices, particularly oil and zinc, which generate a large part of the 7(i) resource revenues shared among the Alaska Native corporations.
Section 7(i) of the Alaska Native Claims Settlement Act (ANCSA) requires each regional corporation to share 70 percent of its net resource revenues received from ANCSA lands with the other regional corporations. Under section 7(j) of ANCSA, the percentage of the 70 percent pool that a regional corporation receives is divided equally between itself and the village corporations and at-large shareholders in its region. The directors of each village corporation determine whether to distribute the 7(j) amounts it receives to its shareholders.
CIRI will mail the payments on Friday, April 3. The payments of shareholders who participate in direct deposit will be electronically transmitted to their designated account by the end of that same business day.
