2019 Dividend Announcement
The Goldbelt Board of Directors is pleased to announce the 2019 dividend amount: $5.50 per share! The 2019 Goldbelt dividend is in line with the exciting growth of Goldbelt businesses in FY2018 and anticipated growth for FY2019. The dividend will be distributed on Thursday, November 14, 2019, through the new Goldbelt Tináa Distributions Trust, which was approved by shareholders at the 45th Annual Meeting of Shareholders with an 85% approval rating. The total 2019 dividend is the highest distribution in the past twenty years, a notable signifier of Goldbelt’s continued success across its Alaska Operations and in the Federal Business Marketplace.
Questions & Answers
What is the Goldbelt Tináa Distributions Trust?
The Tináa Trust was voted on and passed by shareholders at the 45th Annual Meeting of Shareholders in July of 2019. It is a separate designated Trust that provides federal tax-free distributions to shareholders and an income-tax deduction for Goldbelt, Inc. Due to current tax laws put in place by the 2017 Tax Cuts and Jobs Act, Alaska Native Corporations can take advantage of new tax savings for shareholders by making distributions through 646 trusts such as the Tináa Trust.
Am I eligible for dividends and other distributions from the Tináa Trust?
Goldbelt shareholders with voting shares are Trust beneficiaries and participate in the distributions. To have voting shares, you must be an Alaska Native or descendant of an Alaska Native by birth or legal adoption.
How do I know if I am a voting or non-voting shareholder?
Those shareholders with any amount of Alaska Native heritage, either by birth or legal adoption, are voting shareholders. 96.5% of Goldbelt shareholders are voting shareholders, with only a small number of shares held by non-voting shareholders. If you are unsure of your status, please contact Shareholder Services at 907-790-4990.
What does this mean for non-voting shareholders?
Shareholders who hold non-voting shares – those who are not of Alaska Native heritage – will not be eligible for the 2019 distribution, as it will be made through the Tináa Trust. These shareholders will remain shareholders of Goldbelt, Inc. and remain eligible for future distributions that come directly from Goldbelt; however, non-voting shareholders are not Trust beneficiaries and are not eligible for any distributions passed through the Tináa Trust. The Board of Directors determines each year how the dividend will be paid and if the Tináa Trust will be utilized.
What are the benefits of making distributions through the Tináa Trust?
- Distributions made through the Tináa Trust are free of federal income tax for shareholders
- Making distributions through the Tináa Trust also offers Goldbelt, Inc. an opportunity for federal tax savings
- Only shareholders of voting status – Alaska Native people – are eligible to receive distributions through the Tináa Trust, in following with the intent of ANCSA, which allows for a greater share to be distributed directly to shareholders of Alaska Native heritage
What are the tax implications?
Shareholders will pay no federal income tax on the 2019 dividend and any other future distributions made through the Tináa Trust. However, shareholders may still pay state income tax. Alaska and Washington, where the majority of Goldbelt shareholders reside, do not have state income tax, so shareholders living in those states will not pay any income tax on their dividends this year.
What is the difference between the Goldbelt Ancestral Trust and the Tináa Distributions Trust?
The Tináa Trust can be used for cost savings distributions today, while the Ancestral Trust can only provide distributions based on earnings that will take many, many years to grow. The Ancestral Trust will remain active and will not be affected by the Tináa Trust. It will continue to grow and be a safe haven for our assets for future generations. The Ancestral Trust beneficiaries are limited to only direct descendants of an original shareholder, while the Tináa Trust beneficiaries are anyone of Alaska Native descent.