Tuesday, June 4News That Matters

Alaska Fund: Direct Payment of $1,312 Set to Arrive in Three Days as Stimulus Update


Alaska Residents to Receive Next Round of Permanent Fund Dividend Payments

Another round of one-time direct payments from the Permanent Fund Dividend is scheduled to be distributed in three days to eligible Alaska residents who have not yet received their payments from the program.

The upcoming payments will be sent to eligible residents in Alaska on Thursday as part of this year’s distribution, which began in October. Three large groups of people received their payments for 2023 in October and November. The payments are valued at $1,312 per resident for 2023.

The recipients of the checks being sent out this week will be individuals who have the “Eligible-Not Paid” status as of December 6 and have not yet received their 2023 or earlier payments from the program.

To qualify for the payment, an applicant must intend to remain a resident of Alaska indefinitely and must not be a convicted felon. Residents of Alaska can apply for the program from January 1 to March 31 each year.

The payment amount for the Permanent Fund Dividend for each year is determined by the mineral revenues for Alaska for that year. State officials state that the program is intended to benefit current and future generations of residents in Alaska.

“The 2023 PFD marks the 42nd year Alaskans have received their share of the state’s natural resource wealth,” said Alaska Department of Revenue Commissioner Adam Crum. “This year, we processed over 8,000 more applications than in 2022. The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”

The program is a crucial part of the economic landscape of Alaska and provides essential financial support to its residents.