"Land is the gift of our ancestors and the guarantee of our right to continue our subsistence lifestyle. Land is the heart of our culture. Without land, we are nothing."
– Harvey Samuelsen
1926 – 2004
Our foundation is based on our land and our shareholders. BBNC’s founders took their knowledge of the land and culture and built BBNC into a diversified corporation with nearly $2 billion in annual revenue. This revenue has been shared with our shareholders, who have received more than $120 million in dividends since our inception. BBNC has and continues to be a major contributor to Alaska’s economy.
Natives from the Bristol Bay region played an important role in achieving the Alaska Native Claims Settlement Act (ANCSA) by encouraging the Native Claims movement.
ANCSA offered an alternative to the Indian reservation system in the Lower 48. When ANCSA was signed into law on December 18, 1971, it required each of the 12 newly formed regions to create a for-profit corporation. Bristol Bay Native Corporation was incorporated in 1972 and became entitled to receive approximately 3 million acres of land, primarily subsurface estate. Roughly 5,400 Alaska Natives with ties to the Bristol Bay region received 100 shares of stock in BBNC. Today, BBNC has more than 9,600 shareholders.