7(i)/7(j) Distribution Announcement for May 6th
Doyon, Limited is proud to announce that the 2020 7(i)/7(j) distribution amount is $17.71 per share.
Distribution will take place on May 6, 2020.
At-Large (Class B) Distribution
What are 7(i)/7(j) distributions and how are they calculated?
Sections 7(i) and 7(j) of the Alaska Native Claims Settlement Act (ANCSA) are unique revenue-sharing mechanisms included by the United States Congress to help ensure that all Alaska Natives benefited from resource development on ANCSA lands. Under Section 7(i), a regional corporation must share 70% of the net revenue from timber and subsurface minerals developed on regional corporation ANCSA lands with the other 11 Alaska Native regional corporations.
Under Section 7(j), a regional corporation must annually pay 50% of the money received under Section 7(i) to the village corporations and to at-large shareholders within its region. In the Doyon region, we make distributions to our village corporations and at-large shareholders in the April/May timeframe of Section 7(i) money we have received from the other regional corporations during the preceding year.
The formula we use is to divide 50% of the amount of Section 7(i) money received by the number of original shareholders. Doyon then pays each village corporation its proportional share of money based on the class A shareholder population in 1972. Each village corporation determines how to use its 7(j) payments.
Every at-large/Class B shareholder receives a disbursement for the individual proportional share based on the same formula.
To make records information changes for future distributions, please contact shareholder records at email@example.com or 1-888-478-4755 (ext. 2040) or (907)459-2040.
For more information about distributions, visit the Doyon Settlement Trust and Distributions page.