Here are answers to frequently asked questions (FAQs) for Shareholders. If you need assistance or have any additional questions, please contact the Shareholder Department in Nome at (907) 387-1200, in Anchorage at (907) 929-7000 or toll-free at 1-877-443-2632.
What are my rights as a shareholder?
You have the right to vote in elections for the Board of Directors and Shareholder proposals/resolutions. If you are a non-native shareholder, you do not have the right to vote.
You also have the right to receive dividends or other distributions from the Corporation and/or SNC Trust. Shareholders and SNC Trust Beneficiaries can enroll for direct deposit of dividends and distributions.
What do I need to do to update my address?
Shareholders can update addresses & view information on the online Shareholder web portal.
You can also call in an address change to the Shareholder Department. You will be asked to verify your social security number to ensure that you are the one requesting a change.
There is also a Change of Address form available on the website. The form may be emailed to the Shareholder Department at .
You are the only person who can update your address unless you have custodian documents or a Power of Attorney documents on file.
How can I change my name?
A legal document is required in order to change your name in the Sitnasuak database. The most common documents sent in are copies of an ID card, marriage certificate or divorce decree. You can scan to email (preferred), mail or fax in your document to: Attention Shareholder Department; fax number 907-375-2910, or email to .
What do I need to know about my Sitnasuak Native Corporation stock shares?
Your shares are yours and no one else can make changes to your shares unless you transfer/gift them to another person(s) who are able to receive them by law (family).
Your shares earn dividends (or SNC Trust distributions) which are distributed according to Sitnasuak’s profitability and the SNC Trust resources.
Can I give my shares to family members while I am alive?
Yes, this is called a “Gift of Settlement Common Stock” Under the 1991 Amendments to ANSCA (43.U.S.C 1601 et sq), you may give stock to only a person who is your child, grandchild, great-grandchild, niece, nephew, brother or sister. This person must be an Alaskan Native, a descendant of an Alaskan Native, legally or tribally adopted into your family.
How can I ensure my shares will be passed on the way I choose upon my passing?
You can bequeath your shares of Sitnasuak Native Corporation stock in a formal will or Sitnasuak Native Corporation Stock Will. This will ensure that your shares are inherited by the people you choose. Sitnasuak encourages every Shareholder to complete a stock will.
What happens if I do not have a will upon my passing?
Without a will directing who you wanted your shares to go to, your shares will be distributed per the Alaska intestate succession laws.
This means your shares will be transferred to your heirs per representation. For example, 50% will go to your spouse and 50% will go to your child/children. If you do not have a spouse, 100% will be divided amongst your children or child. If you do not have any children, 100% will go to your spouse.
For more information please call the Shareholder Department or refer to the State of Alaska Intestate Succession Laws.
Can I sell my Sitnasuak Native Corporation stock shares?
No, Sitnasuak Native Corporation stock cannot be sold traded, etc… The 1991 Amendments of ANSCA continued 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 subject to a lien or judgment, cannot be assigned, cannot be treated as an asset in bankruptcy or insolvency and cannot be otherwise taken away.
What were the past years’ dividends or distributions?
2019 – $7.50 per trust unit (share)
2018 – $7.50 per trust unit (share)
2017 – $6.20 per share
2016 – $6.00 per share
2015 – $6.20 per share
2014 – $6.16 per share
2013 – $6.16 per share
2012 – $7.16 per share
2011 – $6.82 per share
2010 – $5.56 per share
2009 – $3.32 per share
2008 – $1.75 per share
Is my Sitnasuak Native Corporation dividend taxable?
Beginning in 2017, Shareholders may incur federal income taxes on their 2017 and future Sitnasuak Native Corporation dividends based upon individual financial situations.
Is my SNC Trust distribution taxable?
Good news – SNC Trust distributions (first made in 2018) are tax-free to SNC Trust unitholders (same as SNC Shareholders).
As background, the SNC Trust was approved by Shareholders at the 44th annual meeting on September 22, 2018. Distributions (both Heritage and Elder Benefits) provided by the SNC Trust are normally tax-free to the recipients.
What are 7(i) and 7(j)?
Natural resource income that is generated by an Alaska Native 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 Alaska Native Village Corporations. 7(j) revenue is an important source to Sitnasuak and our Shareholders.
Does Sitnasuak Native Corporation offer internship programs?
Yes! Students may be placed in the Nome or Anchorage offices, and may also get an opportunity to work with a subsidiary company. If you would like to know more about becoming an intern or know of someone who might be interested, please contact our office at (907) 387-1200.
Does Sitnasuak Native Corporation offer help for funeral and burial expenses?
Yes, Sitnasuak offers Bereavement Benefits Assistance via the SNC Trust. The SNC Trust can provide up to $1,500 to the family of the deceased shareholder/qualified beneficiary to help defray the costs of funeral and burial expenses.
Can I access my Shareholder information online?
Sitnasuak has an online portal for Shareholders to access information and resources. The web-based portal is secure, free and provides quick online resources. The portal houses more than 40 downloadable forms for the convenience of Sitnasuak Shareholders. There is also a dedicated page for Shareholders to help find missing Shareholders.
Once logged in, the portal provides access to your Shareholder record for confirming, updating and accessing forms. Shareholders can register for a MySitnasuak account by visiting shareholder.snc.org, click the “Register” button. Once a Shareholder verifies the information and sets up a username and password, the following services will be available:
Here are a few of our most commonly used forms, for your convenience.