Message to Shareholders
Another fiscal year came to a close for Doyon on September 30. We expect this past year to be the second-best financial year we’ve had in the company’s history. In spite of the tough year with continued low oil prices, Doyon was still able to make a significant profit. Unfortunately, shareholder hire is not as high as we had hoped, but it remains a top priority for the board and management.
The past few months have been eventful for Doyon. In August, we held a quarterly board meeting where we had the opportunity to meet with Alaska’s U.S. senators, Sen. Lisa Murkowski and Sen. Dan Sullivan.
Sen. Sullivan reported on efforts to address water and sewer issues in rural Alaska through proposed legislation by the Senate Environment and Public Works Committee. He also reported on legislation giving Vietnam veterans the opportunity to choose Native allotments, as some weren’t able to do so while fighting in the war. Doyon has a long history of working with veterans to obtain allotments in our region, including on Doyon-selected ANCSA lands, and fully supports this bill.
Sen. Murkowski spoke about protections for Alaska Native lands guaranteed through the Alaska National Interest Lands Conservation Act (ANILCA). She also discussed the Alaska Native Land Claims Improvement Act, which includes language requiring the secretary of the Interior to convey lands to the Gwich’in people of Canyon Village. Having both U.S. senators join the board meeting was an honor for us.
Also at the quarterly board meeting, the directors approved a shareholder dividend distribution of $5.99 per share, or $599 per 100 shares. We are proud to be able to distribute a shareholder dividend for the 30th consecutive year. Doyon will pay $11,440,689 in dividends, of which $8.8 million will go to Alaska-based shareholders. Be sure to update your address and direct deposit information, if either has changed, before the deadlines. November 8 is the deadline to apply for direct deposit, and November 21 is the deadline to make address changes.
Finally, the community continues to prepare for the 50th AFN convention, which will take place in Fairbanks this month. Each year, Doyon submits the names of our Shareholder of the Year award recipients to AFN for their awards. I’m looking forward to seeing if any of our distinguished shareholders will be chosen for the AFN awards.
I’m also pleased to report that Fairbanks Native Association, Tanana Chiefs Conference and Doyon are working together on an AFN welcome and Fairbanks Four potlatch on Wednesday, October 19 at 6 p.m. at the Big Dipper. All are invited to attend as we welcome our guests to the Interior.
I look forward to seeing many of you during AFN week in Fairbanks and at this fall’s Dialogue with Doyon sessions. Thank you for your continued support.
Aaron M. Schutt
President and CEO