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 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.
Shareholders should note the following important dividend dates:
- Tuesday, November 7, 5 p.m. AKST: Deadline to apply for direct deposit
- Monday, November 20, 5 p.m. AKST: Deadline to make address changes and enroll eligible class C shareholders
- Tuesday, December 5: Dividends direct deposited or mailed to the address on file as of November 21
To make any records information changes for the dividend disbursement, please contact shareholder records at records@doyon.com or 888-478-4755 (ext. 2040).
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