AIDEA board to decide Nov. 4 how much of its earnings to make available to the state

The board of the Alaska Industrial Development and Export Authority, the state's development finance corporation, will decide Wednesday, Nov. 4, how much of its earnings to make available to the state.

The agenda for the special meeting doesn't list an amount. By law, the board must set the dividend at 25% to 50% of what the law defines as AIDEA's net income from two years earlier, according to a past board resolution. The Legislature then decides whether to appropriate it.

This one, for the state's 2028 budget year, is based on the year that ended June 30. The board is also scheduled to adopt its audited results for that year at the same meeting.

Last December, AIDEA reported a record $67.4 million in statutory net income for the year that ended June 30, 2025, and declared a $17 million dividend, equal to about a quarter of that figure. AIDEA says it has declared $512 million in dividends since it began. The dividends it declared for the two budget years before that were $20 million and $11 million.

The board also plans a closed-door session on AIDEA's finances and two projects, GEOAlaska and the Wrangell shipyard, before taking up a resolution on each. The agenda lists those only by title.

Written comments are due by 4 pm Nov. 3, and people can also comment by phone during the meeting.