Eligible Alaska residents will receive their payment from the 2023 Permanent Fund Dividend beginning early next month.

The roughly $1,300 payment, approved by lawmakers in the fiscal 2024 budget earlier this year, begins distribution in 20 days.

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Permanent Fund Dividend payments being sent out on Oct. 5 will go to those who filed electronically, requested direct deposit, and had the “eligible not paid” status as of Sept. 21, per the state.

To qualify for the yearly dividend payment, the applicant must be an Alaska resident who intends to remain a resident of the state indefinitely at the time of filling out the application, along with not being a convicted felon and not claiming residency in another state during that year.

Residents of the “Last Frontier” from Jan. 1 to March 31 of each year can apply for the yearly payment. While the state sets the three-month period as a hard deadline, there are exceptions for some people to apply at different times, according to the state.

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Payment amounts from the state’s Permanent Fund Dividend are determined by the mineral revenues for Alaska that year and are sent to residents of the state “to benefit current and future generations.”

The state also says that any residents who have yet to be paid their 2022 or earlier year dividends and are “determined eligible during this time” will also be paid on Oct. 5.