Feb 21, 2016

A US$23,000 citizen dividend? Yes, it has been happening for many years!

Many Native American groups or corporations practice citizen ownership and citizen dividend.  The previous post gave the example of Tyonek Native Corporation which gave a citizen dividend of US$800 in 2015.

However, the corporations vary a lot in size and profitability. The corporation that gives the best citizen dividend is probably Afognak Native Corporation. It has been giving a citizen dividend of more than US$23,000 a year for many years.

Here are some details extracted from the Afognak website.
Aq’wanermuit “Our Community”  
Afognak Native Corporation represents and serves over 900 Native Shareholders who are descended specifically from the Village of Afognak. As an Alaska Native Corporation, Afognak is responsible for meeting economic, social, and cultural obligations to its Shareholders. Afognak is accomplishing this by providing benefits to individual Shareholders and strengthening Aq’wanermuit “our community.” It is important that these two areas co-exist because by unifying Aq’wanermuit, we develop a collective strength and by providing benefits to individual Shareholders we empower every Shareholder.

In 2012, Shareholders holding 100 shares received $25,000 in dividends. From 2007-2011, Afognak paid $12.2 million in dividends annually, providing a Shareholder holding 100 shares with $23,860 each year. Afognak has distributed dividends each year since 1989. (Note: Each adult "citizen" is automatically given 100 shares in the corporation.)
 Citizens around the world, where is your citizen dividend?

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