It's a matter of dividends: Alaska Natives collectively receive multi-millions in dividends each year.

• Author: Grenn, Ben
• Position: Alaska Native Business News

There is an Alaska Native word, Sakuuktugut, which translated means "we are working incredibly hard."

"Sakuuktugut" may best describe the 13 Alaska Native regional corporations and 30 village corporations reported on by the Association of ANCSA Regional Corporation Presidents/CEOs. (There are actually close to 200 village corporations.) These entities work hard to try to reward their shareholders with dividends and make sound investments.

Native corporations represented 98,000 shareholders in 2001, but not all corporations paid a dividend. Total dividends paid out to shareholders by the 43 corporations for 2001 alone were $52.1 million. Not included in that dividend total is CIRI's special distribution to its shareholders in 2001 of $94.3 million, according to the report.

Two years ago, the 43 corporations had combined revenue of $2.4 billion.

Of the 43 corporations researched, 26 did not pay out dividends in 2002. The remaining paid out $45.6 million, dispersed through 9.6 million shares to 92,000 shareholders.

The regional and village corporations choose not to sell their shares to the public, but rather keep the shares amongst Native shareholders.

STRATEGIES FOR SUCCESS

"The key factor for us being successful is making careful investments, both in and out of Alaska, with the highest quality of partnerships," said Mark Kroloff, chief operating officer for Cook Inlet Region Inc.

Kroloff, who has been with CIRI, one of the largest regional corporations, for 15 years, says, "cultivating that reputation with stability and professionalism adds to our strength."

Kroloff adds it can be a tug-of-war at times. "You have to make the decisions that will earn the most profit, while being able to pay your shareholders a dividend, who in turn want good investments that will eventually turn into higher dividends.

"We want to be able to increase the dividends, but here is an inherent internal tension to resist doing that. It's hard on the board of directors."

CIRI has more than 7,200 shareholders of Athabascan and Southeast Indian, Inupiat and Yup'ik Eskimo, and Aleut descent.

Today's CIRI shareholders represent a cross-section of many cultures. Some CIRI shareholders still live traditional subsistence lifestyles or hold contemporary jobs in traditional village areas. Approximately one-third of its shareholders live in Anchorage, one-third in other parts of Alaska and the remaining one-third live in other states across the country.

RISING DIVIDENDS

The cumulative CIRI dividend distribution per shareholder with 100 shares jumped from $23,806 in 1993 to more than $138,000 to date...