SNC Trust Declares Largest Shareholder Distribution in its History
Nome, Alaska | November 5, 2021
The Trustees of the SNC Trust are pleased to declare a Heritage Distribution of $9.50 per Trust Unit (or $950.00 for those with 100 Trust Units) to all beneficiaries of record as of November 4, 2021. An Elders Benefit Distribution of $1,000 per Elder has also been declared for those eligible SNC Trust beneficiaries 65 years of age or older. The SNC Trust distribution will be tax-free to each recipient and be distributed on or before December 3, 2021.
These Heritage and Elder Distributions represent the largest ever distribution in SNC history and we are honored and privileged to provide these benefits. SNC is pleased to report that its businesses have performed above expectations during these continuing challenging times. The Distributions from the SNC Trust are possible with the success and support of SNC’s businesses and is calculated based on an analysis of SNC’s historical, current and projected financial performance.
We are proud to have a dedicated team at SNC that works closely with our SNC Trust, SNC Board of Directors, Management and Employees who all work diligently to maximize the value and benefits to our Shareholders, Beneficiaries and communities. SNC looks forward to completing fiscal year 2021 with operational and financial success.
About the SNC Trust
The SNC Trust is headquartered in Nome, Alaska, and was approved by SNC Shareholders on September 22, 2018, at the 44th Annual Meeting. SNC’s Shareholders are the Trust’s Beneficiaries, and SNC’s Board of Directors are the Trustees of the SNC Trust. The SNC Trust ownership of Trust Units are equal to the number of shares of SNC Settlement Common Stock owned by SNC Shareholders. The SNC Trust is an Alaska Native Claims Settlement Act (ANCSA) Settlement Trust with the purpose to promote the health, education, and welfare of the Trust’s Beneficiaries; to preserve the heritage and culture of Alaskan Natives; and to promote the long-term economic stability of the Trust’s Beneficiaries through distributions and benefits and through the minimization of taxes.