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Doyon Settlement Trust and Distributions

As an Alaska Native Regional Corporation, Doyon shares our profits with our shareholders. On this page, you’ll find useful information about the Doyon Settlement Trust and distributions.

The Doyon Settlement Trust was created by a vote of Doyon, Limited shareholders on November 16, 2018. A special meeting of shareholders was held on this date for the purpose of deciding upon the formation of the Trust.

The purpose of the Doyon Settlement Trust is to promote the health, education, and welfare of its beneficiaries, and to preserve the heritage and culture of Alaska Natives. The Doyon Settlement Trust accomplishes its purpose by making distributions to its beneficiaries(shareholders).

The Doyon Settlement Trust (DST) distribution is a cash distribution to the trust’s primary beneficiaries (Doyon shareholders). The DST distribution is based upon the number of Doyon shares owned by each beneficiary. The DST distribution from the trust replaces some or all of Doyon’s dividends to its shareholders. DST distributions made during the year will not be taxable to shareholders/beneficiaries.

For shareholder safety, if we don’t have your current address and contact information, we won’t send out your payment or direct deposit. We keep a list of shareholders with bad addresses—are you on it? To update your contact information call shareholder records at 1-888-478-4755 or (907) 459-2040 or email records@doyon.com.

Doyon Settlement Trust Distribution (Replaces Doyon Dividend)

The 2019 DST distribution will be mailed or direct deposited to its beneficiaries (Doyon shareholders) on Thursday, December 5, 2019, and again in July 2020.

Doyon’s distribution amount is based on a five-year average of net income.

The distribution amounts for the last several years have been the following:

2019 – Two distributions in December 2019 and July 2020 of $5.44/share for a total distribution of $10.88/share
2018 – $6.65/share
2017 – $6.18/share
2016 – $5.99/share
2015 – $5.18/share
2014 – $4.95/share
2013 – $4.23/share
2012 – $4.15/share
2011 – $3.88/share

To make records information changes for future DST distributions, please contact shareholder records at records@doyon.com or 1-888-478-4755 (ext. 2040) or (907)459-2040.

 

At-Large (Class B) Distribution

What are 7(j) distributions/dividends 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 benefitted 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)/7(j) 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(j) 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. The remaining 7(i)/7(j) funds are used for administrative costs for Doyon to run these annual disbursements for every Interior village corporation and at-large shareholder.

To make records information changes for future dividend disbursements, please contact shareholder records at records@doyon.com or 1-888-478-4755 (ext. 2040) or (907)459-2040.

Frequently Asked Questions

Find answers to common questions regarding Doyon’s dividend payment process.

​I didn’t change my address, but it’s different from what Doyon has on file. What should I do?

It’s easy to find out if we have your current address.

Contact shareholder records at 1-888-478-4755 or (907) 459-2040, or email records@doyon.com. To be sure you receive your dividend payment this year, please make sure we have your correct address.

When will I receive my check?

Because postal delivery times vary, we can’t predict how quickly your check will arrive. The fastest way to receive your dividend is to set up direct deposit to your bank account prior to the deadline.

How do I apply for direct deposit?

To fill out a request for direct deposit, either print the direct deposit form from your computer or ask our records department to mail or fax the form to you. Once you’ve completed and returned the form, direct deposit will be established for your account. To ensure that your dividend payment is sent via direct deposit this year, please apply before November 7.

For more information on direct deposit, contact the shareholder records department at 1-888-478-4755, 459-2040 (in Fairbanks) or at records@doyon.com.

When will checks be mailed or direct deposited?

The December distributions are either direct deposited or mailed to the address on file. If you’ve moved and/or we don’t have your current address, we won’t send your dividend payment. We strongly encourage you to take a moment to update your contact information—and to sign up for direct deposit.

Please note, if your name is on the bad address list, your dividend will not be issued until your information is up-to-date.

Can you hold my check so I can pick it up prior to it being mailed?

We cannot hold anyone’s checks. All distribution payments are either mailed to shareholders or direct deposited into their bank accounts.

Can my check be direct deposited to my bank?

Before the direct deposit application deadline of November 7, you can apply to have your payment deposited directly into your bank account. You can print the direct deposit form or ask our records department to mail or fax the form to you. You can reach Doyon’s records department by calling 1-888-478-4755, 459-2040 (in Fairbanks) or by emailing records@doyon.com.

How long is my check valid?

Checks are valid for six months. After six months, you can contact our records department at 1-888-478-4755 (ext. 2040) or 459-2040 (in Fairbanks) to have the check reissued.

I lost my check. Can you stop payment?

Stop payment orders can only be used as a last resort: It takes about two months to stop payment on a check and Doyon must pay a bank fee for every stop payment order we issue. For details, please contact shareholder records by calling 1-888-478-4755, 459-2040 (in Fairbanks) or by emailing records@doyon.com.

My check was stolen. What do I do?

If you believe your signature was forged on a dividend check, contact our records department at 1-888-478-4755 for specific instructions. We can send you forgery paperwork by mail, but you must also contact your local police to file a report.

I borrowed money and signed a letter relinquishing my dividend. Can you send the check to the person who gave me the loan?

Doyon checks cannot be assigned to any person other than the shareholder.

Can the IRS or child support garnish my Doyon dividend?

If we are instructed do to so by the IRS, Doyon must withhold a shareholder’s dividend. We are also legally bound to honor child support court orders. For guidance on your specific case, please contact shareholder records by calling 1-888-478-4755, 459-2040 (in Fairbanks) or by emailing records@doyon.com.

Doyon has the wrong custodian listed for a shareholder. How can I get it changed?

If you believe Doyon shows the wrong person listed as custodian for a shareholder, please contact shareholder records by calling 1-888-478-4755, 459-2040 (in Fairbanks) or by emailing records@doyon.com.

Is my Doyon distribution 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.

I haven’t gotten my child enrolled yet. Do Class C children get this dividend?

If your child is enrolled as a Class C shareholder before November 7, they will receive the dividend. If you miss this deadline, your child may be eligible for future dividends once you’ve enrolled them.

My relative passed away and the shares haven’t transferred yet. What happens to their dividend?

The dividend for deceased shareholders is held until the shares are transferred to their heirs. Only when the shares are transferred will heirs receive held distributions.

My name changed. How do I change the name on my check?

Please contact shareholder records to learn how to make a name change on your account. Call us at 1-888-478-4755 ext. 2040 or 907-459-2040 or email records@doyon.com.

I own Elder stock (Class E). Do I get this dividend?

Yes. Shareholders with Class E stock will receive payment for an additional 100 shares in their distribution.

If you didn’t find an answer to your question, don’t hesitate to contact our records department—we’re here to help you. Call us at (888) 478-4755 ext. 2040 or (907) 459-2040 or email records@doyon.com.

Our mailing address:
Doyon, Limited
1 Doyon Place, Suite 300
Fairbanks, Alaska 99701