Stimulus update: Direct payment worth up to $1,312 to be sent from Alaska fund in one day

Another batch of one-time direct payments from Alaska’s Permanent Fund Dividend to eligible state residents will go out in only one day.

The state has already sent payments to two groups of eligible residents during the first two mass disbursements on Oct. 5 and Oct. 18. The next round of checks is scheduled to be sent out on Nov. 16, with the payments for 2023 being worth $1,312 per resident.

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To qualify for the payment, an applicant must be an Alaska resident who intends to remain a resident of the state indefinitely and has not been a convicted felon. The applicant must not have claimed residency in another state during the year to qualify for the program. Applications for the program are open to residents from Jan. 1 to March 31 each year.

The round of checks being sent out on Nov. 16 will go to residents who had the “Eligible-Not Paid” status on Nov. 8 and have yet to receive their 2023, or earlier, payment from the state program.

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

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