November 3, 2022

The Sitnasuak Native Corporation (SNC) Board of Trustees is pleased to declare a $10.50 per Trust Unit Heritage Distribution to all SNC Trust Beneficiaries on record as of November 3, 2022; $1,050 for those with 100 Trust Units.  This is a 10.5% increase from 2021 and represents the largest distribution in the Trust’s history. 

The SNC Board of Trustees has also declared an Elders Benefit Distribution of $1,000 per Elder Beneficiary; eligible Beneficiaries must be 65 years of age or older by November 3, 2022.  The SNC Trust Heritage and Elders distributions will be tax-free to each recipient and will be distributed no later than November 30, 2022.   

“The SNC Trust continues to provide strategic value by maximizing the benefits provided to our shareholders/beneficiaries.  As we continue to contribute to the Trust, we are building a foundation to sustain and grow future distributions and benefits,” said CEO, Charles E. Fagerstrom.  “We are proud to have a team at SNC who is dedicated to our mission to benefit our shareholders, protect our land and its resources, and support our culture by maximizing the profitability of our corporation while upholding our Inupiaq values; this commitment is what drives our success”.  

The quickest way to receive distributions is by direct deposit; Beneficiaries can sign up on the MySitnasuak shareholder portal at https://shareholder.snc.org/home.  Beneficiaries interested in receiving their 2022 trust distribution by direct deposit must sign up by Friday, November 11.   

Please note: if you are signing up for direct deposit with Credit Union 1, Alaska USA Federal Credit Union, Denali/Nuvision or any other credit union, you must use your full account number, not your member number, or the transaction may not work; you can call your financial institution’s 800 number for your full account number.   

For Beneficiaries who receive their distribution check via mail, please verify that your address is up to date.  You can verify this on the MySitnasuak shareholder portal or by emailing the Shareholder Department at shareholder@snc.org.   

Many benefits are available to SNC Beneficiaries and Lineal Descendants through the SNC Settlement Trust.  SNC provides both direct and indirect economic benefits including distributions, charitable contributions, scholarships, bereavement benefits, discounts with our family of businesses, camp/home sites on our ANCSA lands, and hire preference for qualified shareholders, descendants, and shareholder spouses. 

About the SNC Trust  
The SNC Trust 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.