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IRC Provides Distribution Payments To Beneficiaries
The Board of Directors of Inuvialuit Regional Corporation (IRC) announces a distribution payment of $400.00 to all enrolled Inuvialuit beneficiaries over the age of 18.
In accordance with the IRC Distribution Policy, each enrolled Inuvialuit beneficiary will receive $400.00. A total of $1,814,400 will be paid to 4,536 beneficiaries over the age of 18 enrolled in the Inuvialuit Trust. Payments can be expected May 1 in the Inuvialuit communities; please contact your Community Corporations for the exact distribution date. For those living outside the Inuvialuit Settlement Region, the payments will be mailed May 1.
The distribution payments are based upon 15% of the Average Comprehensive Income for the preceding ten-year period as determined from IRC’s audited consolidated financial statements, prepared in accordance with the International Financial Reporting Standards.
IRC subsidiaries – Inuvialuit Development Corporation, Inuvialuit Investment Corporation, Inuvialuit Land Corporation and Inuvialuit Petroleum Corporation – are contributing to the distribution. The IRC Distribution Policy ensures that there is sufficient reinvestment of profits to guarantee the preservation and growth of the land claim capital for future generations of Inuvialuit. The establishment of the Inuvialuit Harvesters Assistance Program, the core funding of the Inuvialuit Education Foundation, Inuvialuit Charitable Foundation and community corporations have all been made possible through such reinvestments.
For further information, contact:
Beneficiary and Enrolment: