What are my rights as a shareholder?
You have the right to vote in elections for the Board of Directors. You also have the right to receive dividends or other distributions from the corporation. If you are a non-Native shareholder by inheritance, you do not have the right to vote.
What do I need to do to change my address?
We must have the change in writing from the shareholder who will be affected. This ensures that only you are requesting this change. If you call with an address change, we will request that you send a letter. You can also fill out the change of address form at this site.
How do I get my name changed?
We require a legal document which reflects the new name. Mail in a document to the Shareholder Liaison at P.O. Box 905, Nome, Alaska 99762 or fax to (907) 443-3063.
What do I need to know about my shares of stock in SNC?
Your shares are yours unless you transfer them to the people authorized by law to receive them. Your shares earn dividends which are distributed according to the corporation's annual earnings.
Can I give shares to my children while I am alive?
Yes you may. Under the 1991 Amendments to ANCSA (43.U.S.C 1601 et seq.), you may give stock only to a person who is your child, grandchild, great-grandchild, niece, nephew, brother or sister and who is also a Native or a descendant of a Native.
Can I bequeath my shares of stock to my heirs?
Yes. You may devise your shares to your heirs in a formal will or stock will. This will ensure your shares of stock are distributed in the manner you wish. Or you can fill out the will packet on this website.
What happens if I do not leave a will to formally pass on my shares of stock?
Without a will directing how your property will be distributed at your death, your shares of stock will be transferred to your heirs under the Alaska State laws on intestate succession. This means your shares will be transferred to your heirs by representation. (100% to spouse, no children; 50% spouse, 50% to children and so on.)
Can I sell my stock?
The 1991 Amendments to ANCSA continue the stock restrictions. These restrictions were originally going to end December 18, 1991. Native stock cannot be sold, cannot be pledged as an asset, cannot be subjected to a lien or judgment, cannot be assigned, cannot be treated as an asset in bankruptcy or insolvency and cannot otherwise be taken away.
Does SNC have a toll free number?
Yes we do. The Nome corporate office toll free number is 1-877-443-2632.
Was there a 2011 shareholder distribution?
Yes. The 2010 shareholder distribution of $6.82 per share was mailed to shareholders in December 2011. If you have questions or did not receive your distribution, please contact our Shareholder Liaison.
What were the recent years' shareholder distributions?
2011 - $6.82 per share
2010 - $5.56 per share
2009 - $3.32 per share
2008 - $1.75 per share
2007 - $1.25 (June) and $1.00 (December)
2006 - $1.47 (June) and $.50 (December)
What is the Shareholder Permanent Fund?
SNC's Shareholder Permanent Fund is set up similarly to the State of Alaska Permanent Fund Dividend. Our Permanent Fund is to ensure future dividends to our shareholders without being dependent on successful operations and 7(j) revenue.
What is 7(i) or 7(j)?
Natural resource income that is generated by a regional corporation is most frequently referred to as 7(i) revenue. It is derived from timber and subsurface mineral rights. Each regional corporation is required to distribute 70% of this income to other corporations based upon shareholder enrollment. Once this income is distributed it becomes known as 7(j) funds of which 50% must be distributed to its village corporations. Historically, SNC's primary source of cash was 7(j) revenue which funded the corporation's operating costs.
Does SNC offer internship programs?
The summer of 2010 was the inaugural year for SNC's internship programs. SNC supported one intern located in the Nome office. In 2011 we supported interns as well. One of SNC's subsidiaries, Bonanza Fuel, Inc. supported one intern in Nome. For more information, please contact Human Resources in Nome.
Does SNC provide for funeral expenses?
We do not have a program to provide assistance.