NNAI was incorporated in November of 1972 following the passage of the Alaska Native Claims Settlement Act (ANCSA) by congress in 1971. In 1972, NNAI represented 206 shareholders, all were given class A common stock and the majority were Dena’ina Athabaskan descent.
The corporation’s shares are divided into two classes: essentially distinguishing between Native and non-Native shareholders:
Class A Common Stockholders are entitled to receive dividends and hold voting rights. Class A Common Stock may be converted to Class B Common Stock and left to beneficiaries who are non-Native via a Stock Will.
Class B Common Stock is held by more than 38 non-Native shareholders – recipients of shares through willed inheritance from Native shareholders. Class B stockholders are entitled to dividends but do not retain voting rights.
As of November 1, 2021, NNAI represents over 415 shareholders – with the majority of which own class A stock. We have shareholders living all over the country as well as a couple living abroad.