Doyon Settlement Trust

International shareholders

Doyon, Limited is aware of the ongoing postal strike in Canada and its potential impact on the delivery of shareholder distr ibutions. At Doyon, we are actively exploring alternative solutions to ensure timely distribution, but please be advised that some shareholders affected by the strike may experience delays until the situation is resolved.

In the meantime, we are seeking potential alternate mailing preferences or solutions. If you are impacted by the postal strike and have a recommendation for an alternate mailing address, please contact us at your earliest convenience.

We greatly appreciate your understanding as we navigate this situation. Our priority is to ensure that your distribution is received as promptly as possible.

For further information or assistance, please contact the Records Department at 907-459-2040, 1-888-478-4755 ext. 2040, or records@doyon.com.

Doyon Settlement Trust and Distributions

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.

Types of Distributions

7(I)/7(J) Distribution

The amount of 7(i) distributions varies depending upon the natural resource net profit of the regional corporations. Doyon receives money from other regional corporations throughout the year. Doyon keeps half the money and deposits the other half in an interest-bearing trust account. That money is then distributed to Class B (at-large) shareholders and village corporations in May.

Doyon Settlement Trust (DST) Distribution

The Doyon Settlement Trust (DST) distribution is a cash distribution. The DST distribution is based upon the number of shares owned by each beneficiary. The amount is based on a five-year average of net income. Beginning in 2019 the DST distribution replaced the Doyon dividend.

7(I)/7(J) Distribution

Where money comes from and where it goes.

Pursuant to ANCSA

Doyon Settlement Trust Distribution (Replaces Doyon Dividend)

The DST distribution is mailed or direct deposited to its beneficiaries (Doyon shareholders – Class A, B, C, D, and E) in December.

Doyon’s distribution amount is based on a five-year average of net income.

Recent distribution amounts

2024 – $12.65/share
2023 – $15.47/share
2022 – $14.71/share
2021 – $14.25/share
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 907-459-2040, 1-888-478-4755, or records@doyon.com.

At-Large (Class B) Distribution

The 2024 May distribution amount is $6.31 per share, or $631 per 100 shares. This payment will be made on Thursday, May 9, 2024 to class B shareholders and village corporations.

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 DST distributions, please contact Shareholder Records at records@doyon.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 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 Records Department at 907-459-2040, 1-888-478-4755
ext 2040, or records@doyon.com.