Doyon publishes undeliverable mail list; shareholders on it will not receive a distribution

Several hundred Doyon, Limited shareholders will not receive a distribution until they update their mailing address with the corporation.

Doyon has published its Undeliverable Mail List, naming shareholders whose mail the U.S. Postal Service returned twice from the address on file. Newsletters, proxies and second-mailed proxies all count as returned pieces. Two returns place a shareholder on the list under company policy. Doyon says shareholders without a valid address on file will not receive a distribution. The notice does not specify which distribution is affected or set a deadline for updating records.

The full list of names appears with Doyon's notice on the corporation's website, doyon.com, where shareholders can check whether they are included. Address changes must be submitted through the Records Department at 907-459-2040, by email to [email protected], or through the corporation's online Change of Information Form. Doyon says updates will not be accepted through program applications, the Doyon Talent Bank, or otherwise.

Doyon's Records & Stocks page says shareholders need an accurate name and address on file "to receive voting information, distribution checks, direct deposit, newsletters and other corporate correspondence," and that shareholders are responsible for reporting changes themselves. The corporation has separately run distributions tied to different formulas. One is a 7(i)/7(j) distribution paid to Class B shareholders and village corporations. Another is a Doyon Settlement Trust payment calculated on a five-year average of net income and units owned. The undeliverable-mail notice does not identify whether it concerns a particular distribution program or payment amount.

Doyon promotes direct deposit as a way to avoid lost checks and delays.