Shareholders to Receive Dividend of $5.18 per Share
Doyon, Limited shareholders will receive a dividend of $5.18 per share, or $518 per 100 shares, this year. The Doyon board of directors voted to approve the 2015 dividend amount at the August 1 quarterly meeting. The 2015 dividend, which increased from 2014’s dividend amount of $4.95 per share, will be disbursed to shareholders on December 8.
“Doyon is pleased to announce a dividend of $5.18 per share to our 19,000-plus shareholders,” said Doyon President and CEO Aaron Schutt. “Doyon and our family of companies had another banner year, and it is with pleasure we are able to pass our profits on to our shareholders.”
Since 1987, Doyon has paid an annual dividend to shareholders. Doyon’s dividend policy states that 50 percent of the corporation’s five-year average net income (in this case, $19,476,550) will be paid out as dividends. Based on the policy, Doyon will pay $9,738,275 in dividends for the year 2015.
Shareholders are strongly encouraged to sign up for direct deposit of dividends and update mailing addresses with the shareholder records department prior to the deadline of Tuesday, November 10, 2015. Signing up for direct deposit and updating addresses ahead of time will minimize dividend receipt delays.
Please note: all shareholders with a bad address on file with Doyon WILL NOT receive a dividend until an updated address has been received. This includes shareholders who already have direct deposit information on file. A current list of shareholders with bad addresses on file can be found at Bad Addresses To update an address, please contact shareholder records at 459-2040 (in Fairbanks), 1-888-478-4755 (toll-free) or records@doyon.com.
Important Dates to Remember:
- November 10, 5 p.m.: Deadline to apply for direct deposit
- November 23, 5 p.m.: Deadline to make address changes
- December 8: Dividends are direct deposited or mailed to the address on file as of November 23
Frequently Asked Questions
I didn’t change my address and it is different from what Doyon has on file. What do I do?
Call, fax or email address changes to shareholder records by November 23. After November 23, shareholders should place a forwarding address on file with their post office and also update their address with shareholder records.
If Doyon mails the check on December 8, when will I receive it?
It depends on the postal delivery time. The fastest way to receive your dividend is to establish direct deposit to your bank account prior to the November 10 deadline.
How do I apply for direct deposit?
Shareholders have until November 10 to apply for direct deposit. The direct deposit application is available at www.doyon.com/shareholders/forms_applications.aspx or by contacting shareholder records.
When will checks be mailed? When will checks be direct deposited?
On December 8, 2015, dividends will be direct deposited or mailed to the address on file as of November 23.
Can you hold my check so I can pick it up prior to it being mailed?
No, all checks are either mailed to shareholders or direct deposited into their bank accounts.
How long is my check valid?
Checks are valid for six months; after six months, the check must be reissued.
I lost my check. Can you stop payment?
Stop payments must be used as a last resort as it takes about two months to process and Doyon must pay a bank fee for every stop payment issued. For specific information, please contact shareholder records.
My check was stolen. What do I do?
If a shareholder believes their signature was forged, Doyon can send forgery paperwork and the shareholder must contact their local police to file a report. For specific information, please contact shareholder records.
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 another person.
Can the IRS or child support garnish my Doyon dividend?
Doyon must withhold the dividend when notified by the IRS and must also honor child support court orders. For specific cases, please contact shareholder records.
The custodian for a child/adult is not who Doyon has listed in its records. How can I get it changed?
For specific cases, please contact shareholder records.
Is this dividend taxable?
Yes, the December 8, 2015 dividend is taxable income.
I didn’t get my child (Class C) enrolled yet. Do Class C children get this dividend?
If the child is enrolled before November 23, 2015, they will receive the dividend. If not enrolled by this date, they may be eligible for future dividends.
My relative passed away and the shares haven’t transferred yet. What happens to their dividend?
The dividend is held. Only when the shares are transferred to the heirs will they receive all held dividends.
My name changed. How do I change the name on my check?
For specific cases, please contact shareholder records.
I own Elder stock (Class E). Do I get this dividend?
Those shareholders with Class E stock will receive the money for the additional 100 shares in their dividend.
For further information on the December dividend, please contact Doyon shareholder records at 459-2040 (in Fairbanks), 1-888-478-4755 ext. 2040 (toll-free) or records@doyon.com