Stimulus update: Direct payment worth up to $1,312 being sent from Alaska fund in nine days

Another batch of one-time payments from Alaska’s 2023 Permanent Fund Dividend is being sent to eligible state residents in only nine days.

The state has already issued the annual payment to two large swaths of eligible residents who received their payments during the first two disbursements, on Oct. 5 and Oct. 18, with another round set to be sent out on Nov. 16. The payments are worth $1,312 per resident for 2023, according to the state’s Department of Revenue.

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The Alaskans receiving their money on Nov. 16 include those who have the “Eligible-Not Paid” status on Wednesday and have yet to receive their 2023 (or earlier) payment from the program.

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

“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.”

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

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