Goldbelt Announces a Special $100 Benefit to Voting Shareholders
On Dec. 7, Goldbelt President & CEO announced a special $100 benefit for each voting shareholder. All shareholders were sent notification of the benefit to their email as well as notification on the MyGoldbelt shareholder portal. The special benefit totals $384,200 and will go to 3,842 voting shareholders on record as of Dec. 5.
The Goldbelt Board of Directors was excited to approve the one-time $100 special benefit to each voting shareholder on Monday, Dec. 5. The payment is to be distributed on Friday, Dec. 16. The board created the special benefit because of the corporation’s strong business performance and unexpected funding relief from the US Department of Treasury for additional COVID-19 expenses incurred by the corporation in 2021.
In 2021, the Treasury distributed Federal CARES Act Tribal Relief funds to Alaska Native Corporations (ANCs). Ultimately some ANCs returned a portion of the money to the government due to their inability to expend the funds within the set parameters by the deadline of Dec. 2021. The Treasury is currently reallocating these unused funds to ANCs for any additional eligible costs incurred because of the COVID-19 pandemic. Specifically, the parameters set by the Treasury for the current funding require that the funds be used to reimburse ANCs for additional company expenses incurred in 2021.
Goldbelt is qualified to accept these additional funds as reimbursement for expenses incurred in 2021 in relation to Goldbelt’s COVID-19 response. Goldbelt accepted a total of $363,575.70 from the Treasury.
With Goldbelt’s pandemic-response expenses mitigated by the CARES Act funding and end-of-year business performance exceeding expectations, the board was eager to initiate this unique benefit to shareholders.