The Ninilchik Natives Association, Inc. Board of Directors is responsible for approving all distributions. Ninilchik Natives Association, Inc. issues shareholders two regular dividends annually. If a dividend is declared, it typically will be paid out by June 1st and a second dividend to be distributed by December 15th prior to the end of the current fiscal year.
These Dividends shall be calculated to equal, in total, twenty percent (20%) of the Net Income attributed to controlling interest after taxes using the final and approved Audited Financial Statements from the previous year. One (1) Regular Dividend equal to fifty percent (50%) of the total distribution and one (1) Regular Dividend equal to fifty percent (50%) of the total Annual Regular Distribution.
In June 2021, NNAI shareholders voted to approve the creations of the NNAI Settlement Trust (NST). In August of 2021, the NNAI Board of Directors approved contributing the amounts that NNAI would have issued as dividends in the second regular dividend of 2021 to the NST Distribution Fund. The NST trustees agreed to distribute the contributed amounts to NST beneficiaries who are shareholders of NNAI on the record dates previously established for those dividends.
As an added benefit, beneficiaries are not required to report distributions of the Trust’s current or accumulated taxable income on their own personal income tax returns.