Anchorage, Alaska – April 15, 2011 – Today, NANA Regional Corporation, Inc. distributed resource proceeds from sources within the NANA Region and from other Alaska Native Regional Corporations pursuant to Section 7(j) of the Alaska Native Claims Settlement Act (ANCSA) to NANA shareholders who hold Class B (also known as At-Large) shares.
Approximately 372 shareholders were eligible for this distribution, receiving $12.01 per Class B share. The total distribution to all Class B NANA shareholders was $353,163.
It is important for shareholders to note that this distribution will be reported to the Internal Revenue Service (IRS) as taxable income paid during 2011 calendar year. In January 2012, all Class B shareholders who received the distribution will receive a tax form 1099-MISC. This distribution must be reported as income on 2012 personal income tax returns.
Shareholders who have questions about this distribution or who want to know what class of stock they own may call (907) 442-3301 in Kotzebue or (907) 265-4100 in Anchorage and let the receptionist know you are calling in regards to your 7(j) distribution.
See NANA’s At-Large Shares FAQ for more information