Calista sets $400 payments for elders, capping what it says is a record $20.8 million year

Calista Corp. will pay $400 each to more than 3,500 elders by Dec. 11, the Yukon-Kuskokwim regional Alaska Native corporation announced Thursday, closing out a year of shareholder payouts it says totaled a record $20.8 million.

The Elders' Benefit, $1.4 million in all, goes only to original shareholders, those enrolled when Calista formed under the 1971 Alaska Native Claims Settlement Act, who are at least 65 by Dec. 2. The amount per elder is the same as last year, when Calista paid it early because of last fall's Western Alaska storms. About 140 more elders qualify this year.

Original shareholders are now a small part of the corporation. Calista has more than 40,100 shareholders, about three times its original roll of roughly 13,300, since shareholders voted in 2015 to enroll descendants. As of last year, about 81% were descendants.

Every shareholder, of any age, gets the other fall payment, the Akilista distribution. It comes from an investment fund Calista set up to pay shareholders regardless of how its businesses do. This year's $4.95 million, due by Nov. 13, works out to about $114 for someone with 100 shares, up from about $106 last year.

Less of it is going to the region. Calista estimates about $2.5 million of this year's Akilista payout will go to Yukon-Kuskokwim households, about half. Last year it estimated $2.7 million of $4.49 million, or 60%. About 57% of shareholders lived in the region as of last year, according to a message from Calista's president, with 21% in Anchorage and 8% in the Mat-Su.

The rest of this year's $20.8 million came in the spring, from a distribution tied to the company's financial results. Calista's more than 40 subsidiaries work in defense contracting, construction, oilfield services and other industries.

Shareholders voted to create the elders' benefit in 2007, and the first payment, in 2008, totaled $375,750. Counting this year's, it has paid about $15.1 million, according to Calista's distributions page.