Permanent Fund Payout Set at $1,312 This Year

By JAMES BROOKS

Alaska Beacon

This year’s Alaska Permanent Fund Dividend will be $1,312.

The Alaska Department of Revenue announced the figure Thursday, two weeks before the annual cash payments will be delivered by direct deposit.

PFD applications that were filed electronically, slated for direct deposit and have been deemed eligible will be paid out Oct. 5. 

The Department of Revenue will mail paper checks and begin direct deposits from paper applications later in the month.

This year’s PFD amount had been estimated at roughly $1,300 since the spring, when the Alaska Legislature appropriated $881 million for this year’s dividend. 

The exact figure each year is based on the number of confirmed recipients. By email, Revenue Commissioner Adam Crum said more than 600,000 recipients have been confirmed so far.

Last year’s dividend, $3,284, included a special one-time energy rebate made possible by high oil prices caused by the Russian invasion of Ukraine.

The state distributed 625,912 dividends that year, the lowest figure since 2009. The number of this year’s recipients is not yet known because the Department of Revenue hasn’t finished processing applications yet.

This year’s dividend is roughly equivalent to 25% of the annual transfer from the Alaska Permanent Fund to the state treasury. The remaining 75% was reserved for state services.

The amount of the 2024 dividend will be set in the spring 2024 legislative session, but lawmakers this year have already agreed to pay a $500 bonus if North Slope oil prices in the current fiscal year average $83 per barrel. 

Since July 1, the start of the fiscal year, prices have averaged $87.45 per barrel.

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https://alaskabeacon.com/james-brooks 

 

Gunalchéesh Háw’aa

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20 YEARS AGO

March 2005

Photo caption: Sitka High School’s Zach Carlson and Barrow’s Jake Voss get a grip on a loose ball, while Sitka’s Jayson Asnin tries to get in on the play. The Wolves beat Barrow 81-77 in triple overtime, Saturday at SHS. 

50 YEARS AGO

March 1975

A catered dinner will be held after “Trial by Jury,” the concert presented by the Sitka Concert Association as a benefit for the Boy Scouts of America. Tickets are $5 each and reservations must be made by Monday.

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