Small Native corporation making payout

FRIDAY, AUGUST 30, 2002

An Alaska Native village corporation is making the first of two $100,000 payouts to shareholders today.

The 147 owners of Akhiok voted to liquidate $31 million of a $36 million trust. The trust was created from the sale of 77,000 acres of land.

The distribution will bring a much-needed influx of cash to the rural village. But some worry that future generations won't be able to share in the wealth.

Get the Story:
The chance of a lifetime or bad investment strategy? (AP 8/30)

Relevant Documents:
Babbitt Signs Agreements (DOI May 1995)

Related Stories:
Native corporation to distribute $200,000 (8/26)