Stimulus update: Direct payment worth $1,312 being sent from Alaska fund in coming weeks

Alaska residents who are eligible for the state’s Permanent Fund Dividend and have yet to see their checks will continue to get their payments within the next few weeks after the first mass disbursement went out earlier this month.

The second mass disbursement of payments from the program, worth $1,312 each, will be delivered to eligible residents on Oct. 26, according to the Alaska Department of Revenue.

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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.”

To be eligible for the annual payment from the state, an applicant must be an Alaskan resident who intends to remain a state resident indefinitely, along with not being a convicted felon and not claiming residency in another state during that year. Residents can apply for the program from Jan. 1 to March 31 each year.

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The state is scheduled to send out payments from the second mass disbursement to those who submitted their application either electronically or by paper and requested to have the payment sent via direct deposit or paper check. For the disbursement being sent later this month, applicants must be confirmed as eligible for the payment by Oct. 18.

The Permanent Fund Dividend is determined by mineral revenues for the state that year, with Alaska officials saying the program is meant “to benefit current and future generations” of the state.