Special $100 Benefit to Voting Shareholders Approved by the Board of Directors
On Dec. 7, Goldbelt President & CEO McHugh Pierre announced a special benefit for each voting shareholder of a one-time $100 payment before the upcoming holiday.
- Dec. 5 Record Date
- Dec. 9 Last Day to Update Banking Information
- Dec. 16 Distribution Date
Letter from President & CEO McHugh Pierre:
Dec. 7, 2022
The Goldbelt Board was excited to approve a one-time $100 special benefit. The payment will be distributed to each voting shareholder on Friday, Dec. 16.
Goldbelt will distribute a total of $384,200 to all voting shareholders on record as of Dec. 5. The board unanimously authorized this payment because the corporation substantially exceeded its budget projections, and the US Department of Treasury unexpectedly offset COVID-19 mitigation business expenses from 2021.
In August 2021, the Treasury distributed Federal CARES Act Tribal Relief funds to Alaska Native Corporations (ANCs). Ultimately some ANCs returned a portion of the money 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 for the current funding require that the money be used to reimburse ANCs for additional company expenses incurred in 2021.
Goldbelt is qualified to accept these additional funds as reimbursement for past expenses in relation to Goldbelt’s COVID-19 response. Goldbelt received a total of $363,575.70 from the Treasury.
With the unexpected reimbursement by the CARES Act funding and better-than-expected business performance, the board was eager to initiate this special benefit to shareholders.
Unlike the regular fall distribution from the Tináa Distributions Trust, this payment will come from the corporation, meaning the funds are taxable. The last day for shareholders to update their banking information is Friday, Dec. 9, by 4:00 p.m. Alaska Time.
For more information or to update your banking details, visit MyGoldbelt.com, call Shareholder Services at (907) 790-4990, or email email@example.com.
Goldbelt President & CEO