The Huna Totem Corporation Shareholders Settlement Trust Board of Trustees met on March 7, 2023, and in accordance with the amended 2019 Trust distribution policy, declared an annual payment of $8.23 per unit, payable to unitholders in three equal payments of $2.74 per unit payable in March, August, and November, with the date of record being the first of each month.
March distribution checks were mailed and direct deposit payments credited on Monday, March 13, 2023. Shareholders not currently benefiting from our direct deposit services are encouraged to register at www.myhunatotem.com or contact Shareholder Relations at 907-789-8500.
It is important to note that over 2019 and 2020, the partial liquidation of $8.76M caused a lower market value for 2019 and 2020. Despite volatile market conditions during 2021 and payment of the partial liquidation, the SST market value maintained growth and recovered to the 2019 pre-distribution value at the close of 2021. Also worth noting, at the end of 2022, the cash net income for the Trust would have resulted in no distribution for 2023 under the previous calculation.
This calculation is based on the amended 2019 10-year review, which changed the annual distribution amount of the trust to a multiplier of two percent (2%) of a five (5) – year rolling average of the market value of the trust.
At the end of each fiscal year, upon completion of a formal financial audit, the calculation for the annual SST distribution amounts will be determined, and the payment schedule for three annual payments in March, August, and November will be announced. After completion of the 2022 audit, the calculation attached was completed to determine 2023 distribution amounts.