Doyon Holds Alaska Native Settlement Trust Survey
On March 27, Doyon, Limited released an online survey and conducted phone surveys with voting shareholders. The survey, which ended mid-April, sought shareholder feedback on the opportunity for Doyon to establish an Alaska Native Settlement Trust fund. The survey was conducted through a third-party vendor in order to keep shareholder feedback confidential and anonymous.
Enhancements to Alaska Native Settlement Trusts were incorporated in tax reforms established by Congress in December 2017, and provide Doyon with the ability to disburse dividends tax-free for Doyon shareholders. This would mean that the dividend amount, which currently needs to reported as taxable income by shareholders, in most years, would no longer be subject to taxes (in most cases). In addition, disbursements made to shareholders would be tax deductible for the company. Last year, Doyon paid out $11,966,000 to shareholders in the form of dividends.
There will be more information to come regarding the Alaska Native Settlement Trust fund as Doyon receives shareholder feedback from the surveys conducted. Doyon appreciates the input of those who were called or completed the emailed online survey.
To receive future surveys like this, shareholders should add a valid email address to their contact information by contacting the shareholder records department at records@doyon.com, 1-888-478-4755 (toll-free), or 459-2040 (in Fairbanks).