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

Alaska is set to send out another batch of one-time payments from the 2023 Permanent Fund Dividend to eligible state residents in two days.

Two groups of eligible residents have already received their payment during the first two disbursements on Oct. 5 and Oct. 18. The next round of checks is scheduled to be sent out on Nov. 16, with the payments being worth $1,312 per resident for this year.

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The batch of payments going 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 Permanent Fund Dividend program.

An applicant must be an Alaska resident who intends to remain a state resident indefinitely and not be a convicted felon or claim residency in another state during the year to qualify for the program. Residents may apply for the state 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 about the program. “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 continued. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”

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