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    Prosperity. Culture. Impact.

    Descendant Enrollment and BBNC’s
Strategic Plan for Growth

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    BBNC’s board has approved a plan to have a shareholder vote at the 2025 BBNC annual meeting to expand enrollment to the descendants of original BBNC shareholders and issue them new shares in our corporation.  Beginning on August 15, 2025, shareholders will be asked to vote on whether to open enrollment to lineal descendants of original BBNC shareholders, as well as missed enrollees. If the majority of shareholders vote to approve this initiative, BBNC will issue 20 shares of Class D stock to eligible descendants, and 100 shares of Class C stock to eligible missed enrollees who enroll. You can learn more about the details of descendant enrollment here.

    This effort is a direct outcome of our strategic planning and is focused on the growth, health, and viability of BBNC. It’s the amplification of our cultures and values. It’s continued strength and prosperity—for both our company and our shareholders. And it’s a guarantee that our community will continue to have far-reaching impact into the future. You can learn more about our path to descendant enrollment here.

    If approved by shareholders, our goals would include:

    • No reduction in current shareholder dividends. We know this is an important provision for all current shareholders. Our goal is to keep dividends for current shareholders steady. With our Elders in mind, the Elder dividend doubled in size this year, bringing that benefit up to $250 per quarter for original shareholders aged 65 and older.
    • To provide a meaningful number of shares to new descendant shareholders.
    • To provide a meaningful dividend to new descendant shareholders.

    We will continue to communicate and educate on this important issue by providing updated information and listening to your questions and concerns over the next year. We have compiled a list of frequently asked questions here.

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    Our Culture Guides the Way.

    BBNC’s sights are fixed on our strategic plan for growth. We’re focused on continued strength and prosperity—for both our company and shareholders. As has been the case since our founding, what guides us and defines us is culture. Enriching our Native way of life has always driven our growth strategy, diverse portfolio, and consistent earnings.

     

    The Alutiiq, Dena’ina, and Yup’ik cultures of our people are intertwined with the region we call home —our land is tied to our subsistence lifestyle, longstanding traditions, and the generations that came before. Years ago, the decision to uphold ‘Fish First’ as a driving value was a decision to embrace culture as the heart and soul of our corporate DNA. Now, enrolling the descendants of our original shareholders is consistent with ensuring culture remains at the forefront of our corporation for future generations.

     

    Having a robust community of shareholders engaging with our corporation in meaningful ways is critical to our culture and shared future. Through building and supporting these connections we can ensure that the next generation of shareholders carries our stories and stewardship forward.

    Potential Benefits and Potential Challenges

    Potential Benefits

    • Descendant enrollment helps ensure that BBNC continues to be led by engaged shareholders far into the future.
      As a practical way to address our aging base of original shareholders, descendent enrollment guarantees that our corporation and our communities will continue to have far-reaching impacts in the future.
    • Descendant enrollment encourages our Native way of life and protection of Bristol Bay to be passed down to future generations.
      Descendant enrollment allows newly engaged shareholders to become involved with our corporation in meaningful ways, including the ability to connect with our culture and our values and to carry these into the future.
    • Descendant enrollment extends ANCSA’s benefits to future generations.
      The original leaders and shareholders of BBNC were fighting not just for themselves, but also to benefit their children and grandchildren. Descendant enrollment extends these rights and benefits for future generations. This effort is a direct outcome of strategic planning and is focused on the growth, health, and viability of BBNC.
    • Descendant enrollment helps educate more people about ANCSA and Alaska Native corporations and their important role in Alaska’s unique form of Indigenous self-determination.
      Growing the number of individuals directly invested in BBNC will help to educate new shareholders, and those around them, about the important role all Alaska Native corporations play in the self-determination of Alaska Native people. This will benefit all ANCs and Alaska Native people, wherever they may call home.

    Potential Challenges

    • Descendant enrollment could dilute current shareholder dividends.
      If approved by shareholders, our goal is to have no reduction in current shareholder dividends. Though we aim to keep dividends for current shareholders steady, it is an undeniable reality that opening our rolls to a new class of shareholders will impact how quickly we are able to grow dividends for all shareholders, including BBNC’s current shareholders.
    • Descendant enrollment could dilute voting influence of current shareholders.
      Adding a new class of voting shares will increase the number of BBNC shareholders that are eligible to vote in BBNC’S corporate elections, and therefore could reduce the voting influence of current, individual shareholders.
    • Descendent enrollment could make reaching voting quorum more difficult.
      Increasing the number of voting shares issued by the corporation will correspondingly increase the number of shares that must be voted in order to reach voting quorum for BBNC’s annual elections, an important requirement for BBNC to conduct business at our annual meetings.
    • Descendant enrollment will increase costs to BBNC by needing to expand shareholder-focused programs/departments.
      Leaders of other ANCs that have opened their rolls to new shareholders all emphasize the importance of increasing capacity in their shareholder services departments to handle the administrative burden of adding a new class of shareholders and educating them to be engaged in corporate elections.

    WE ARE BBNC

    Shareholders are the foundation of our corporation. Our growth depends on you.

    To contact us about Descendant Enrollment, email info@bbnc.net.

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