PUBLISHED: 5:01 PM on Wednesday, February 6, 2008
Kootznoowoo permanent fund settlement trust
Shareholders of Angoon's village corporation, Kootznoowoo, were issued a dividend of $3.27 per share today in the first distribution of 2008 from the shareholders' settlement trust.

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
Smith says that the trustees are closely following developments in capital markets. "Our Board of Trustees recognizes that 2008 has brought increased volatility and nervousness to the market along with the prediction by many of an economic slowdown, especially in the United States," Smith says. "We continue to review our asset allocation and make adjustments to capture and maintain the growth pattern we have enjoyed."

Contacts: Carlton R. Smith, Chairman, 723-3866

Trustees: Matthew Kookesh, Rose Duran, Marshall Lind and Anthony Mallott