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Dividends

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

The dividends 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.

Doyon has been issuing dividends since 1987. Based on our board implemented disbursement policy, Doyon paid $11,373,000 in dividends for the year 2017. 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 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 will be 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 – TBA
2017 – $12.45
2016 – $10.50
2015 – $17.80
2014 – $14.44
2013 – $15.93

Shareholders should note the following important 2018 At-large (Class B) dividend distribution deadlines:

  • Monday, April 2, 5 p.m. AKDT: Deadline to apply for direct deposit
  • Tuesday, April 10, 5 p.m. AKDT: Deadline to make address changes
  • Wednesday, April 25: Dividends direct deposited to those registered as of April 2
  • Wednesday, May 2: Dividend checks mailed to Class B addresses on file as of April 10

To make any records information changes for the dividend disbursement, please contact shareholder records at records@doyon.com or 1-888-478-4755 (ext. 2040).

 

2017 December Dividend Distribution

The Doyon, Limited board of directors approved a shareholder dividend in the amount of $6.18 per share, or $618 per 100 shares, during its quarterly meeting in Fairbanks on August 19. The dividend will be distributed to shareholders on Tuesday, December 5, 2017.

“Doyon is proud to distribute its 31st consecutive dividend to shareholders,” said Doyon President and CEO Aaron Schutt. “In December, the total distribution amount will be approximately $12 million to over 19,700 shareholders, of which 75 percent are residents of Alaska.”

Doyon’s dividend amount is based on a five-year average of net income, and this is Doyon’s 31st consecutive year of distributing a dividend. Seventy-five percent of Doyon’s shareholders reside in Alaska, which translates to approximately $9 million flowing into Alaska’s economy.

The dividend amounts for the last several years has 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
2010 – $4.21/share

To make any records information changes for the dividend disbursement, please contact shareholder records at records@doyon.com or 1-888-478-4755 (ext. 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. Just be in touch with our shareholder records by calling 1-888-478-4755. If you’re in Fairbanks, call 459-2040. Or email our records department at records@doyon.com. To be sure you receive your dividend payment this year, please make sure we have your correct address before Nov. 20.

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?

On December 5 dividends are either direct deposited or mailed to the address on file as of November 20. 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 before the deadline of November 7.

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 dividend 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 dividend taxable?

Yes, Doyon dividends are taxable income.

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 20, 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 dividends.

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. If you’re in Fairbanks, call 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 dividend.

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. If you’re in Fairbanks, call (907) 459-2040. Or email us at records@doyon.com.

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

Photo by Thom Watson / CC BY / Transparency adjusted