Stimulus update: Direct payment worth $1,312 from Alaska fund goes out in three days

Another swath of one-time direct payments from the Permanent Fund Dividend is set to go out in three days to eligible Alaska residents who have yet to receive their payments from the program.

The next set of payments will be sent to eligible residents in the Last Frontier on Thursday, continuing distribution for this year’s payment from the program, which began in October. Three large groups of people already received their payments from the program for 2023 in October and November. The payments are worth $1,312 per resident for 2023.

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Alaska residents receiving the checks being sent out this week will be people who have the “Eligible-Not Paid” status on Dec. 6 and have yet to receive their 2023 or earlier payments from the program.

An applicant must be someone who intends to remain a resident of Alaska indefinitely and is not a convicted felon to qualify for the payment. Alaska residents may apply for the program from Jan. 1 to March 31 each year.

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

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“The 2023 PFD marks the 42nd year Alaskans have received their share of the state’s natural resource wealth,” Alaska Department of Revenue Commissioner Adam Crum said in a statement. “I would like to thank our Permanent Fund Dividend Division for their tireless work year-round in administering the program and processing the applications.”

“This year, we processed over 8,000 more applications than in 2022,” he continued. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”