December 4, 2015
Calista Corporation Declares 8th Elders' Benefit Distribution
$325 Provided to Each Original Shareholder Over 65 Years of Age
(Anchorage, Alaska) - This week, the Calista Corporation Board of Directors approved the eighth consecutive Elders' Benefit Program distribution. Totaling nearly $670,000, original Calista Shareholders over 65 years of age will each receive $325. The total of all Elders' Benefit distributions since inception is $4.3 Million. Separately, Shareholder dividends total $33.3 Million, with 40 percent of that total provided in the last two years.
With approximately 13,000 individuals, Calista has one of the largest populations of Shareholders among Alaska Native Corporations. The number of original Shareholders over 65 years of age, or Elders, is more than 2,000. Checks are expected to be mailed out by the close of business Thursday, December 24.
"Calista Shareholders voted to approve the Elders' Benefit Program during an advisory vote in 2007," said Calista Corporation Board Chair Margaret Pohjola. "With so many Elders on fixed income, this special distribution can allow our valued and most economically-challenged Shareholders pay for necessities including food and heating fuel."
Calista has declared an Elders' Benefit Program distribution each year since 2008. During the 2015 calendar year, Calista declared two individual dividends totaling $7 Million. Spring dividends are based on unaudited financial results from the prior year. Fall dividends come from the Akilista investment portfolio, which saw its first distribution in 2014. This is an investment fund created to provide a perpetual source of dividends not reliant on business operations.
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The second largest of the original 13 Alaska Native Corporations, Calista Corporation was established under the Alaska Native Claims Settlement Act of 1971 and represents approximately 13,000 Shareholders. The Calista region encompasses more than 6.5 million acres and includes 56 villages, which are incorporated into 46 individual village corporations. Since 1994, Calista has provided more than $4 million in scholarships and since inception, more than $37.6 million in dividends and Elders' Benefit Program distributions to its Shareholders and Descendants.
Calista Corporation is the parent company of more than 35 subsidiaries in the following industries: military defense contracting, construction, communications, real estate, environmental and natural resource development, and information technology and media services. Calista can be found on Facebook and Twitter.