Media Contact

Shelly Wozniak
Corporate Communications Manager
(907) 265-3776
shelly.wozniak@nana.com

7(j) Distribution

NANA Regional Corporation, Inc. recently distributed resource proceeds from sources within the NANA Region and from other Regional Alaska Native Corporations pursuant to Section 7(j)  of the Alaska Native Claims Settlement Act (ANCSA) to NANA Shareholder who hold Class B (also known as At-Large) shares. More than 350 Shareholders were eligible for this distribution and each received $6.34 per Class B share.  The total distribution to all Class B NANA Shareholders was $186,396.  It is important to note that this distribution will be reported to the Internal Revenue Service (IRS) as taxable income paid during calendar year 2010. In January 2011, all Class B shareholders who received the distribution will receive a tax form 1099-MISC. This distribution must be reported as income on 2010 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.