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

Another batch of one-time direct payments from the Alaska Permanent Fund Dividend is slated to be sent out to eligible residents who have yet to receive their payments from the program for this year.

The next round of distribution of the annual payment will occur Thursday, becoming the fourth wave of 2023 payments sent out since October. The 2023 payments from the program are worth $1,312 per resident.

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Alaskans who had the “Eligible-Not Paid” status on Dec. 6 and have yet to receive their 2023 or earlier payments from the program will receive a payment during this wave of distribution.

An applicant must intend to remain a resident of Alaska indefinitely and not be a convicted felon to qualify for the state program. Alaska residents may apply for the program from Jan. 1 to March 31 of each year, with certain exceptions allowing residents to apply outside that window.

The payment amounts for the Permanent Fund Dividend are determined by mineral revenues from the state of Alaska for each year and are meant to benefit current and future generations of residents, according to state officials.

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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,” Crum added. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”