The Aleut Corporation is proud to report that the permanent fund recently reached a value of $10,000,000. We should all be proud of this significant milestone. Investing for tomorrow is never as easy as spending today. Hats off to those who saw the value in saving for future generations. Your vision is paying off.
As many of you are aware, The Aleut Corporation established its own permanent fund on April 1, 1992. The purpose was to invest in marketable securities so that a stable source of cash flow could one day be made available for shareholder dividends.
Fifteen years after its creation, the TAC permanent fund is on the verge of producing its first dividend. The founders of the TAC permanent fund established policies that dictated fund earnings were to be reinvested until the fund reached a value of $10 million. After that, the policy provides guidelines for distributing all future earnings.
Fifty percent of all future earnings will be reinvested into the principal of the fund to keep it healthy and robust. Much like the Alaska Permanent Fund, reinvesting new earnings from the TAC permanent fund back into the principal will allow the fund to grow at an extraordinary rate. It also means the principal of the fund will never drop below $10 million.
TAC permanent fund policy also orders 15% of all future profits after reaching the $10 million benchmark to be given to The Aleut Foundation, and that the remaining 35% of future profits be distributed among shareholders in the form of an additional amount added to the regular dividend.
Because the TAC permanent fund only recently reached $10 million in value, it will take time to realize and distribute future profits to shareholders. The fund is an investment in our future and a reminder to us all that good planning and leadership can pay dividends for generations. – less–ZoomInfo