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 firstname.lastname@example.org.
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 email@example.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 firstname.lastname@example.org or 1-888-478-4755 (ext. 2040) or (907)459-2040.