October 27, 2006
Doyon, Limited is one of the thirteen Native regional corporations established by Congress under the terms of the Alaska Native Claims Settlement Act (ANCSA).
With the land entitlement of 12.5 million acres, Doyon is the largest private landowner in Alaska and is one of the largest private landowners in North America. Doyon's lands extend from the Brooks Range on the north to the Alaska Range on the south. The Alaska Canada border is at their eastern border and their western portion almost reaches the Norton Sound.
The amount of the distribution was determined in accordance with a revised distribution policy adopted by the Board of Directors in 2002. According to the policy, Doyon annually distributes 50 percent of the average of the last five years' net profits in the form of distributions and contributions.
"I am very pleased to report to Doyon shareholders that the corporation will enjoy its 22nd straight year of profitability. With this year's dividend, we have now exceeded $90 million in dividends paid to shareholders since the formation of Doyon," said Orie Williams, Doyon President and CEO. "Our projected growth and the strategic direction adopted by the Board of Directors should provide increases in dividend payouts over the next five years. With the ongoing prayers and support of our shareholders, the Board of Directors and employees of Doyon will continue to work together - to be leaders in all we do."
Doyon, Limited will hold its Annual Meeting of Shareholders on Friday, March 16, 2007 at 9:00 a.m. at the Friend's Conference Center, located at 1485 30th Avenue, in Fairbanks, Alaska.
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