Alaska has announced that eligible residents will receive a $1,702 payout in 2024 through the Permanent Fund Dividend (PFD) program. This year’s amount is a significant boost from the previous $1,312, offering relief and financial support as Alaskans face rising living costs.
What is the PFD?
The Permanent Fund Dividend is Alaska’s unique way of sharing its oil and gas revenues with residents. Established to distribute a portion of the state’s natural resource income, the PFD has become a financial lifeline for many Alaskans.
This year’s payment of $1,702 includes:
- PFD Amount: $1,403.83
- Energy Relief Payment: $298.17
The energy relief component is designed to help families offset high heating and utility bills, especially during the harsh Alaskan winter.
Who is Eligible?
To qualify for the 2024 PFD, you must:
- Be a legal resident of Alaska for all of 2023 and plan to stay indefinitely.
- Not have been absent from the state for more than 180 days (exceptions apply for military, education, or other approved reasons).
- Have no disqualifying criminal convictions or long-term incarceration during the qualifying year.
The application period ran from January 1 to March 31, 2024. Payments will be disbursed on December 19, 2024, to those who applied on time and are listed as “Eligible – Not Paid.”
How Will Payments Be Distributed?
Residents will receive their payments either via direct deposit or by mailed checks, depending on the option they selected during the application process.
Why Does This Matter?
This year, over 600,000 Alaskans are set to receive the dividend, pumping millions of dollars into the local economy. The funds are expected to help families with necessities such as housing, heating, and groceries.
A Lifeline for Alaskans
The PFD program has a rich history, created to ensure that all residents benefit from the state’s natural resource wealth. With the rising cost of living, the program continues to provide essential financial support.
