At Bering Straits Native Corporation, we are very proud to invest in our shareholders and descendants. BSNC paid more than $9 million in shareholder benefits in FY20. BSNC employed 140 shareholders, descendants and shareholder spouses in FY20.
Shareholder dividend ($7.00 per share) – $4.4 M
Special Elders’ distribution ($1,500 per Elder) – $1.5 M
Special March dividend ($3.00 per share) – $1.8 M
Special March Elder dividend ($250 per Elder) – $254,500
Bereavement ($2,500 benefit) – $340,000
Since the passage of the Alaska Native Claims Settlement Act, BSNC has distributed more than $41 million in shareholder benefits.
In addition to November 2019’s record dividend declaration of $7.00 per share, BSNC’s Board of Directors voted to declare a special March 2020 dividend of $3.00 per share and a special Elder dividend of $250 per Elder in response to the COVID-19 pandemic.
“In providing for a special dividend distribution, we want to do what we can to help our shareholders deal with the COVID-19 pandemic,” said BSNC President & CEO Gail R. Schubert. “We have adapted to many changes, are resilient and look out for each other. This is an important traditional cultural value.”
BSNC has distributed $35 million in dividends and special Elder distributions to shareholders since its inception. FY20 dividends were paid through the BSNC Beringia Settlement Trust and are tax free to shareholders.
The BSNC Beringia Settlement Trust now provides shareholder bereavement assistance in the amount of $2,500 to help defray the cost of funeral expenses for an original BSNC shareholder, a lineal descendant of an original BSNC shareholder, or the spouse of a living original BSNC shareholder. The deadline for filing for bereavement assistance is within three months of the date of death.