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 $11,440,689 in dividends for the year 2016. 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.
2017 At-Large Distribution
The May 3, 2017 7(i) distribution to class B (at-large) shareholders will be made in the amount of $12.45 per share.
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:
2017 – $12.45
2016 – $10.50
2015 – $17.80
2014 – $14.44
2013 – $15.93
2016 December Dividend
August 2016, the Doyon, Limited board of directors approved a shareholder dividend in the amount of $5.99 per share, or $599 per 100 shares, during their quarterly meeting in Fairbanks. The dividend was distributed to shareholders December 6, 2016. For more on this dividend visit 2016 Shareholder Dividend Announcement.
The dividends for the last several years has been:
2015 – $5.18
2014 – $4.95
2013 – $4.23
2012 – $4.15
2011 – $3.88
2010 – $4.21