Nome, Alaska | November 6, 2020
The Trustees of the SNC Trust are pleased to declare a Heritage Distribution of $8.45 per Trust Unit (or $845.00 for those with 100 Trust Units) to all beneficiaries of record as of November 6, 2020. 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 November 25, 2020.
These Heritage and Elder Distributions represent the largest ever distribution in SNC history and we are honored and privileged to provide these benefits during this unprecedented pandemic that has challenged us all. We are pleased to report that SNC businesses have performed exceptionally well and have exceeded early financial expectations. The Distributions from the SNC Trust are possible with the success and support of SNC’s businesses and is 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 2020 with operational and financial success and continuing this momentum into 2021 and beyond to further maximize shareholder benefits.