Settlement Trust distribution: The Huna Totem Board of Trustees
has announced an $10.80 per unit distribution– or $1,080
for a typical unitholder holding 100 units – which is
slated to be paid on or before Feb 15.
Shareholders of Huna Totem approved to
establish the Shareholders’ Settlement Trust at a special
meeting of shareholders September 23, 1994. Shareholders of
Huna Totem became unit holders of the Trust (the number of
Trust units equals the number of Huna Totem corporate shares).
The purpose of the trust was to set aside funds to fuel future
cash distributions to shareholders. To date, the Trust has
paid more than $32 million in distributions. A typical unit
holder owning 100 units has received about $36,500 since 1994.
This distribution figure does not include corporate dividends
paid by Huna Totem.
The distribution policy calls for up to 60 percent
of the net income to be distributed annually to unit holders
three times a year – on/before August 15, on/before
November 15, on/before February 15 following the annual financial
audit.
The majority of Trust assets are invested in stocks and bonds,
and a smaller percentage is invested in real estate and a
hedge fund.
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