Carlton Smith, Chairman of the Kootznoowoo Permanent Fund Settlement Trust, said that the ending balance for 2007 was nearly $14 million, an increase of nearly $1 million over the previous year.
Two more distributions will be made this year, with the per share total expected at close to $10 for 2008. Most shareholders hold 100 shares of interest in the trust.
Much like the Alaska Permanent Fund, Kootznoowoo Settlement trust averages returns over a 5-year period to provide more predictable dividends throughout the year.
The trust was created by Kootznoowoo Inc. in 1991 and funded in 1994 with $9.5 million. Since its inception, the trust has distributed over $8 million to shareholders. While the shareholders of Kootznoowoo each hold equity interest in the trust equal to their shares in the corporation, both organizations are separate and are presided over by separate boards.
Courtesy Photo Chairman of the Kootznoowoo Permanent Fund Settlement Trust, Carlton Smith
Contacts: Carlton R. Smith, Chairman, 723-3866
Trustees: Matthew Kookesh, Rose Duran, Marshall Lind and Anthony Mallott