The NRC Shareholder Trust (NRC Trust) board of trustees authorized a spring distribution to trust beneficiaries (NANA shareholders) at their meeting today held in Fairbanks, Alaska. The spring distribution was made possible through a cash contribution authorized to the NRC Trust by the NANA Regional Corporation (NANA) board of directors. All NANA shareholders of record are beneficiaries of the Trust and will receive $7.78 per trust unit (share) payable on or about May 15, 2024, if they are a beneficiary of record as of May 6, 2024. The total distribution will be approximately $14.2 million.
NANA shareholders are advised to update their addresses, apply for direct deposit or enroll as a new Class D shareholder by May 1, 2024, 5 p.m. AKDT, to ensure they receive the NRC Trust spring distribution. Shareholders can visit nanatkut.com or contact the Shareholder Records department (907) 442-3301, (800) 478-3301 (toll-free) or at records@nana.com to update their records.
ABOUT THE NRC SHAREHOLDER TRUST
In 2019, NANA voting shareholders approved the creation of the trust as a settlement trust under the Alaska Native Claims Settlement Act (ANCSA) to provide cash distributions to NANA shareholders, generally on a non-taxable basis. All shareholders of NANA are beneficiaries of the trust and have trust units. Each beneficiary holds the same number of trust units as that person has shares in NANA. If a beneficiary has voting shares in NANA stock, the trust units owned by the beneficiary are voting units. If the beneficiary’s NANA shares are non-voting, the beneficiary’s trust units are similarly non-voting. The NRC Shareholder Trust is managed by a board of trust comprised of up to seven (7) members appointed by the NANA board of directors.
ABOUT THE NANA BOARD OF DIRECTORS
NANA Regional Corporation’s 23-member board is elected by the corporation’s more than 15,500 Iñupiat shareholders. The board structure consists of two Iñupiat shareholder board members from each NANA regional community (except for Kotzebue with one board seat), two at-large seats and an Elder Advisor. Officers serve three-year terms.
