2020 Distribution Schedule

The accompanying table has been prepared to assist shareholders with financial planning. It contains the approved dates for the payments CIRI and the CIRI Settlement Trust (CST) expect to issue to shareholders and CST beneficiaries who are CIRI shareholders in 2020, including:

Direct Deposit Sign-Up Deadline (3 p.m.) Address Change and Cancel Direct Deposit Deadline (3 p.m.) Record Date Mailing Date Payments from the CIRI Settlement Trust Distribution Fund* Resource Revenue Payments** Payments from the CIRI Settlement Trust Elders Fund***
March 2, 2020 March 5, 2020 March 13, 2020 March 13, 2020 $450.00
March 9, 2020 March 20, 2020 March 23, 2020 March 25, 2020  $9.46/share

Total payout: $5,938,042

March 9, 2020 March 20, 2020 March 24, 2020 March 26, 2020  $18.8951 / Share
June 1, 2020 June 4, 2020 June 12, 2020 June 12, 2020 $450.00
June 8, 2020 June 22, 2020 June 23, 2020 June 30, 2020  $9.46/share

Total payout: $5,938,042

Aug. 31, 2020 Sept. 3, 2020 Sept. 11, 2020 Sept. 11, 2020 $450.00
Sept. 9, 2020 Sept. 22, 2020 Sept. 23, 2020 Sept. 30, 2020  $9.46/share

Total payout: $5,938,042

Nov. 16, 2020 Nov. 30, 2020 Dec. 1, 2020 Dec. 9, 2020 To be announced
Nov. 16, 2020 Nov. 30, 2020 Dec. 11, 2020 Dec. 11, 2020 $450.00


The CIRI Board of Directors adopted an equity-based dividend policy in 2007 stating that the total CIRI dividend payment to shareholders in any given year shall equal 3.5% of the total shareholders’ equity, calculated as of Dec. 31 of the prior year, and shall be distributed in four quarterly payments, with the first three dividends equal to approximately 24% of the total distribution and the fourth quarter dividend equal to approximately 28% of the total distribution.

In June 2019, CIRI shareholders voted to approve the creation of the CIRI Settlement Trust (CST). In August 2019, the CIRI Board of Directors rescinded the dividend policy and approved contributing the amounts that CIRI would have issued as 2019 third and fourth quarter dividends to the CST Distribution Fund, with the CST trustees agreeing to distribute the contributed amounts to CST beneficiaries who are shareholders of CIRI on the record dates previously established for those dividends. Thereafter, starting in 2020, until and unless otherwise ordered or modified by the Board of Directors, CIRI shall annually contribute 3.5% of the previous year’s ending shareholders’ equity balance attributable to CIRI to the Distribution Fund of the CST. As with the prior dividend policy, this contribution shall be made in four quarterly contributions, with the first three contributions equal to 24% of the total contribution and the fourth quarter contribution equal to 28% of the total contribution. Each such contribution shall be designated for payment to the CST Distribution Fund for distribution to the beneficiaries who are CIRI shareholders. Payments from the CST Distribution Fund are then paid to the beneficiaries of the CST (or their personal representatives, legal fiduciaries or other successors, as defined by law) on a pro rata basis according to the class, series and number of CIRI shares that each beneficiary owns on the record date set for each distribution.

The amount of CIRI’s contributions to the CST is typically calculated shortly before the date of record for the first quarter payment from the CST Distribution Fund, which generally falls within the last two weeks of March. As the first step in the process, CIRI’s prior-year accounting books must be “closed” (i.e., all prior-year expenses and income must be received and either paid or properly accounted for). Next, CIRI’s Finance and Accounting Department prepares CIRI’s financial statements for the prior year, after which an independent accounting firm retained by CIRI reviews its financial statements and confirms their accuracy. This process determines CIRI’s total shareholders’ equity upon which current-year CST Distribution Fund payments will be based.

Prior to the completion and audit of the financial statements, the Finance and Accounting Department has enough information to estimate the ending shareholders’ equity balance upon which the distributions are based, enabling the amounts of the first, second and third quarter distributions to be declared. Once the financial statements are completed and have been reviewed and confirmed by the independent accounting firm, the amount of the fourth quarter distribution is able to be calculated and announced.

As in the past, distributions are announced in the newsletter, CIRI’s website and the distribution hotline, which can be accessed by dialing (907) 263-5100 in Anchorage or toll-free outside of Anchorage by dialing 1-800-764-2435 (CHEK).


The yearly amount of CIRI’s resource revenue distribution is calculated shortly after CIRI’s annual audited financial statements for the prior year are approved. Once calculated, the amounts are immediately announced to shareholders via this website, the CIRI newsletter and the dividend hotline (907-263-5100 or 1-800-764-2435), with the actual distribution made shortly thereafter.

As required by ANCSA, resource revenue payments associated with at-large shares are paid directly to the shareholder, while resource revenue payments associated with village class shares are paid to the underlying village corporation. Although ANCSA requires the regional corporations to pay resource revenue amounts associated with village-class shares to the associated village, it does not require the village corporations to then distribute those amounts to their shareholders. The decision of whether or not to do so is made by the directors of the respective village corporations.


CST Elders Fund distributions are paid to the beneficiaries of the CST who are original CIRI shareholders, and who are alive and 65 years of age or older on the approved payment dates, providing they either own at least one share of CIRI stock or gifted all of their CIRI stock to family members prior to July 31, 2003. CST Elders Fund payments are scheduled to occur in the same months as quarterly payments from the CST Distribution Fund so as to reduce the number of months that some Elders lose their SSI payments because their monthly income exceeds limitations set by the Social Security Administration.