On November 16, 2018, Doyon shareholders voted to create the Doyon Settlement Trust (DST). DST distributions will replace all Doyon dividends issued to its shareholders.
Doyon, Limited shareholders will receive their first Doyon Settlement Trust (DST) distribution on December 4, 2018, by direct deposit or through the mail.
The 2018 distribution marked the 32nd consecutive year that Doyon issued a dividend or distribution to its shareholders and was the 33rd year of profitability in the company’s history. This was also a significant distribution year since there are now over 20,000 Doyon shareholders.
“Doyon is proud to issue its 32nd consecutive distribution to our shareholders,” said Aaron Schutt, Doyon president and CEO. “The distribution amount is an increase over last year’s dividend, which is a testament to the hard work and dedication of Doyon’s employees.”
The distributions we pay annually to our shareholders represent more than money. As 50 percent of our five-year average net income, those payments show our values as a corporation. When we do well financially, our shareholders benefit, too—receiving half of whatever profits we make.
If you’re a shareholder with up-to-date records and you’ve signed up for direct deposit, these funds go straight into your bank account.
If we can’t reach you because we don’t have your current address and contact information, we won’t send out your payment. We keep a list of shareholders with bad addresses—are you on it? It’s quick and easy to update your contact information. And it’s worthwhile: Just call shareholder records at 1-888-478-4755, 459-2040 (in Fairbanks) or email records@doyon.com.
2018 Doyon Settlement Trust Distribution (Replaces Doyon Dividend)
The Doyon, Limited board of directors and trustees approved the first Doyon Settlement Trust (DST) distribution in the amount of $6.65 per share, or $665 per 100 shares, during the trustee meeting on November 16, 2018 . The DST distribution will be mailed or direct deposited to its beneficiaries (Doyon shareholders) on Tuesday, December 4, 2018.
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:
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 disbursements, please contact shareholder records at records@doyon.com or 1-888-478-4755 (ext. 2040).
2018 At-Large (Class B) Distribution
The 2018 7(i) distribution to At-Large (Class B) shareholders is in the amount of $19.21 per share or $1,921 per 100 shares. The dividend was distributed to At-Large shareholders by direct deposit on April 25 or by mail on May 2, depending on shareholder preference.
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) were 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 the 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.
The At-Large (Class B) April/May distribution for the last several years has been:
2018 – $19.21
2017 – $12.45
2016 – $10.50
2015 – $17.80
2014 – $14.44
2013 – $15.93
To make records information changes for future dividend disbursements, please contact shareholder records at records@doyon.com or 1-888-478-4755 (ext. 2040).