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.
NOTE: The DST distributions to all shareholders are not taxable, but the May 7(i) distributions to Class B (At-large) shareholders are taxable.
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 email@example.com.
Doyon Settlement Trust Distribution (Replaces Doyon Dividend)
The 2020 DST distribution will be mailed or direct deposited to its beneficiaries (Doyon shareholders) on Wednesday, December 2, 2020, and again on June 15, 2021.
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:
2020 – Two distributions in December 2020 and June 2021 of $6.71/share for a total distribution of $13.42/share
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 firstname.lastname@example.org or 1-888-478-4755 (ext. 2040) or (907)459-2040.
At-Large (Class B) Distribution
The 2020 May distribution amount is $17.71/share.
What are 7(i)/7(j) distributions 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 benefited 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) 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(i) 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.
To make records information changes for future distributions, please contact shareholder records at email@example.com or 1-888-478-4755 (ext. 2040) or (907)459-2040.
Reminder about 1099 Forms
Doyon shareholders will not receive a 1099 form from Doyon for neither the June or December 2020 DST distributions. These distributions are not taxable to Doyon shareholders.
Beginning in 2019, Doyon Settlement Trust (DST) distributions replaced Doyon dividends issued to shareholders, with the exception of 7(j) distributions. The 7(j) distributions that Doyon pays to at-large shareholders and village corporations in May of each year cannot be paid out of the DST and will continue to be taxable. At-large (Class B) shareholders who received a distribution in May 2020 were mailed an IRS 1099-MISC form if their distribution was $600 or more.
For more information, contact the Shareholder Records Department at 907-459-2040, 1-888-478-4755 (toll-free), or firstname.lastname@example.org.