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.
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 the 2013 resource revenue distribution is calculated, the amount will be immediately announced to shareholders via the CIRI website and the dividend hotline (263-5100 or 1-800-764-2435) with the actual distribution made shortly thereafter-usually within the first two weeks of April. CIRI will also send an eAnnouncement once the payment amount has been calculated.
Resource revenue payments are not dividends or investment income, and represent taxable income to shareholders.
Additional information on resource revenue payments can be found by clicking here.
