Previously SNC paid dividends to Shareholders which were subject to taxation. With the establishment of the SNC Trust, Heritage Distributions replace dividends. The distributions have significant tax advantages to both recipients and the Corporation. Future distributions are planned to be made via the SNC Trust.
SNC has had a great year in 2019 and was able to support the SNC Trust with a strong contribution of $2.7 million. The Trustees declared a Heritage distribution of $7.50 per trust unit (or $750.00 for those with 100 trust units) to all beneficiaries of record as of November 14, 2019. An Elders Benefit of $750.00 per Elder was also declared for those eligible SNC Trust beneficiaries.
The benefits and distributions provided by the SNC Trust will normally be tax free to the recipients, and for this reason, future distributions will likely come from the SNC Trust rather than from SNC itself.
Trust Unit Holders with questions are encouraged to contact SNC’s Shareholder Relations Department at 907-387-1200 or toll-free at 877-443-2632 or via email at email@example.com .