Doyon, Limited

The front (top, facing southerly) and back (above, facing northerly) sides of Doyon's headquarters building in downtown Fairbanks

Doyon, Limited is one of thirteen Alaska Native Regional Corporations created under the Alaska Native Claims Settlement Act of 1971 (ANCSA) in settlement of aboriginal land claims. Doyon, Limited was incorporated in Alaska on June 26, 1972.[1] Headquartered in Fairbanks, Alaska,[2] Doyon, Limited is a for-profit corporation with about 18,000 Alaska Native shareholders[3] primarily of Northern Athabaskan Indian descent.

Officers and directors

A current listing of Doyon, Limited's officers and directors, as well as documents filed with the State of Alaska since Doyon's incorporation, are available online through the Corporations Database of the Division of Corporations, Business & Professional Licensing, Alaska Department of Commerce, Community and Economic Development.[1]

Shareholders

At incorporation, Doyon, Limited enrolled 9,061 Alaska Native shareholders,[3][4] each of whom received 100 shares of Doyon stock. A 1989 amendment to ANCSA granted regional corporations the right to enroll qualified Natives born after 1971, and in March 1992 Doyon shareholders voted to give stock to Native children born between 1971 and 1992, adding 5,487 additional shareholders to Doyon's rolls,[4] bringing the total number of shareholders to over 14,000.[3][4] Shareholders at that time also voted to give an additional 100 shares of stock to 646 elders who had reached age 65 by December 1992.[4]

At the 2007 annual shareholder meeting in March 2007, Doyon shareholders voted to extend enrollment to eligible descendants of original Doyon shareholders who were born after 1992, and also to give additional shares of stock to elders who turned age 65 after 1992.[5] This will result in a potential additional enrollment of about 5,925 children by 2011; an estimated 1,227 elders who will turn age 65 by 2011 will also receive additional shares of Doyon stock.[4]

As an ANCSA corporation, Doyon has no publicly traded stock and its shares cannot legally be sold.

Lands

Doyon's land entitlement under ANCSA is about 12.5 million acres (50,600 km²), making Doyon the largest private landholder in Alaska and among the largest private landowners in North America. The Doyon region encompasses a vast region in Interior Alaska, from Brooks Range in the north to the Alaska Range, and from Alaska's border with Canada in the east extending westward nearly to the shores of Norton Sound.[3] As of March 2007, about 9.8 million acres (40,000 km²) have been conveyed, including 6.6 million acres (27,000 km²) in surface and subsurface estate (fee Owned) and 3.2 million acres (13,000 km²) of subsurface estate corresponding to surface estate owned by villages corporations in the Doyon region.[6]

Business enterprises

Under federal law, Doyon, Limited and its majority-owned subsidiaries, joint ventures and partnerships are deemed to be "minority and economically disadvantaged business enterprise[s]" (43 USC 1626(e)).

See also

References

  1. ↑ 1.0 1.1 Corporations Database. Doyon, Limited. Division of Corporations, Business & Professional Licensing, Alaska Department of Commerce, Community and Economic Development. Retrieved on 2007-03-27.
  2. ↑ "Contact Us." Doyon, Limited. Retrieved on March 31, 2011. "1 Doyon Place, Suite 300 Fairbanks, Alaska 99701-2941"
  3. ↑ 3.0 3.1 3.2 3.3 Doyon, Limited. (2007). "Doyon History." Retrieved on 2007-03-27.
  4. ↑ 4.0 4.1 4.2 4.3 4.4 Doyon, Limited. (2007). "New Enrollment." Joining Generations. Retrieved on 2007-03-27.
  5. ↑ Fairbanks Daily News-Miner. (2007-03-20). "Doyon to give stock to young and old: Profits were up 36%; distribution's aim is to strengthen culture." Anchorage Daily News. Retrieved on 2007-03-27.
  6. ↑ Doyon Lands and Resources Department. (2007). Alaska Native Claims Settlement Act." Retrieved on 2007-03-27.

External links