Records & Stocks

Frequently Asked Questions

The Doyon stock brochure is full of helpful information about Doyon, the Alaska Native Claims Settlement Act (ANCSA) and resources for better understanding your rights, restrictions and responsibilities when it comes to Doyon stock.

Find answers to some commonly asked questions about Doyon stocks.

What is gifting stock?

The Alaska Native Claims Settlement Act Amendments of 1987, allows shareholders who own class A, B, or D shares to transfer shares, as an inter vivos gift to certain family members.

Only a shareholder can elect to gift their shares. This voluntary gift transfer takes place during a shareholder’s lifetime.

By Federal law, the recipient of Doyon shares transferred by an inter vivos gift must also be a Native or a descendant of a Native who is related to the donor (the shareholder giving the gift of stock) by blood or adoption, and not simply by marriage.

What this means

You CAN Gift To: Child, Grandchild, Great Grandchild, Niece or Nephew, Sister or Brother

You CANNOT Gift to: Friends, Spouse, Parents, Grandparents, Aunts or Uncles

For more information, please contact Doyon’s shareholder records department at 1-888-478-4755 ext. 2040.

When is the next shareholder dividend, and how much will it be?

Distributions are made in December of each year. The amount of the distribution will be based on the average net profits for the preceding five years.

Does Doyon have direct deposit for shareholder dividends?

Yes. Forms are available online or by coming into the shareholder records department office. If you sign up for direct deposit before the Nov. 11 deadline, your dividend will go straight into your bank account when funds are distributed.

Can I sell my stock?

No, Doyon stock cannot be sold, transferred or traded. These restrictions on Native corporation stock were established with the Alaska Native Claims Settlement Act (ANCSA) until 1991. Unless shareholders of the corporation voted to lift the restrictions, they would then automatically remain in effect. In 1989, 75 percent of the shareholders who responded to a survey said they wanted to continue the restrictions.

How long does it take for a deceased shareholder's stock to be reissued to next of kin?

If there are no problems with the estate, it takes approximately 120 days to determine a deceased shareholder’s heirs. Doyon typically takes approximately six months if any of the potential heirs object to the distribution of shares. All dividends are held until the stock is distributed to the proper heirs.

Are distributions taxable?

As of November 2018, Shareholders will no longer receive a 1099 form for the IRS as the Doyon Settlement Trust December distribution is not taxable. Held dividends from before November 2018 are still taxable.

Please note that the 7(i) distributions that Doyon pays to at-large shareholder and village corporations in May of each year cannot be paid out of the DST and will continue to be taxable. All door prizes or winnings are also taxable.