Nearly every man, woman and child in Alaska will get $949.46 this year as their share of Alaska’s oil riches.
It is the third-largest dividend paid out in the 12-year history of the program, which was created to ensure Alaskans benefit from the state’s oil wealth long after the petroleum is gone. The amount of this year’s check was announced Tuesday.
Every year, a percentage of the state’s oil revenue automatically goes into the Permanent Fund, an investment fund that totals $15.5 billion.
The annual dividend announcement is eagerly awaited by Alaskans, many of whom rely on the cash to help them get through the long winter. Many merchants have Permanent Fund dividend sales every October, when the checks are issued.