Greetings, fellow shareholders,
Thank you to everyone who joined us for the Annual Meeting. It was wonderful to connect with you, hear your questions and ideas, and share updates on the Corporation’s progress. We have posted responses to shareholder questions online and appreciate your continued engagement.
Congratulations to incumbent directors Bobby Evans and Roy Ashenfelter on their re-election, and to newly elected directors Roy Agloinga, Neal Foster and Don Stiles. I look forward to working with the Board as we continue advancing BSNC’s mission. We also had the opportunity to recognize many Elders and outstanding young people through our awards. Congratulations to youth award recipients Brooke Anungazuk, Haylen O’Connor, and Rena Kiyutelluk, as well as Cheryl Ongtowasruk, recipient of the Tim Towarak Memorial Scholarship. Their accomplishments are inspiring, and I look forward to seeing what they achieve in the years ahead.
BSNC had an exceptional year, and we are pleased to share the results of our continued success with our shareholders. In August, the Beringia Settlement Trust Board declared a regular distribution of $13.50 per share and a $1,600 Elder distribution. Combined with the special distributions announced earlier this year, this equates to $22.25 per share and $2,100 in total distributions for eligible Elders this year.
The Trust Board also approved a special $7.5 million contribution to the Beringia Settlement Trust Permanent Fund, bringing the fund to approximately $95 million. Growing this long-term fund is an important investment in our future. By preserving the principal and using its earnings to support shareholder benefits, we can strengthen the Trust’s ability to provide meaningful distributions for generations to come.
Last year, shareholders reached an important milestone by approving the resolution to open enrollment to lineal descendants and missed enrollees. Approximately 2,500 descendants have applied so far, marking significant progress in this initiative. We remain committed to moving this process forward while responsibly planning for BSNC’s future.
As BSNC continues to grow, we have more opportunities to invest in our shareholders, our communities, our culture and heritage, and the next generation. This progress is made possible by the dedication of our employees, the leadership of our Board, and the continued trust and support of our shareholders.
Thank you for being part of BSNC’s success. We remain focused on responsibly growing the Corporation, delivering meaningful benefits, and creating opportunities for Our People for generations to come.
Quyaana,
Cindy Massie
President