CIRI’s dividend policy states that the total dividend payment to shareholders in any given year is equal to 3.50 percent of total shareholders’ equity, calculated as of December 31 of the prior year. For 2019, the amounts of the first through third quarter dividends were previously calculated and will be $9.03 per share (or $903 per 100 shares). The amount of the fourth quarter dividend has been calculated at $10.51 per share (or $1,051 per 100 shares).
Checks and vouchers for the first quarter dividend will be mailed or directly deposited by 6 p.m. Alaska time on Friday, March 29, to all shareholders with a valid address on file with CIRI as of 3 p.m. on Wednesday, March 20.
Resource Revenue Payments
Resource revenue payments of $19.2334 per share (or $1,923.34 per 100 shares) will be mailed or directly deposited by 6 p.m. Alaska time on Monday, April 1, for shareholders who own at-large shares and had a valid mailing address on file as of Wednesday, March 20. 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 twelve regional corporations within the state of Alaska.
Direct Deposit/Remote Deposit
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. Shareholders who participate in direct deposit and have a current CIRI mailing address are also eligible to participate in quarterly prize drawings. Visit ciri.com or contact Shareholder Relations for direct deposit forms or information on remote deposit.
Direct deposit may be cancelled online via the Qenek portal. Otherwise, your signed, written cancellation request must be received by the deadline. Visit ciri.com and click on the Qenek link to create an account or access an existing account. Maintain a current mailing address and access your Qenek account quarterly in 2019 for a chance to win a YETI Tundra 35 Cooler!
A list of shareholders without a current mailing address on record is continually updated and posted on ciri.com. 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 is signed up for direct deposit. When a shareholder fails to notify CIRI of a new address before a specified deadline and the check is sent to the old address, CIRI cannot reissue that check unless it is either returned to us, or a minimum of 90 days has elapsed.
If your address has changed, be sure to update your address with both CIRI and the U.S. Postal Service. The addresses must match or your CIRI mail may not reach you. CIRI address changes may be submitted online via the Qenek portal. Alternatively, you may submit a completed CIRI address change form – available at ciri.com – or a signed, written address change request that includes a current telephone number. Address change forms and requests can be scanned and emailed to email@example.com, 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 usps.com or your local post office.
As a reminder, 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 Internal Revenue Service themselves. To learn more about applicable federal and state tax requirements or making quarterly estimated tax payments, please consult with a tax advisor or contact the IRS directly.