Alaska residents will start receiving their annual dividends from the state’s energy fund Thursday, and this year’s checks will be slightly above average. The 2023 payment will total $1,312 per resident, a decrease from last year’s dividend of $3,284 but higher than the roughly $1,200 average payout since the endowment’s inception. Alaskans determined to be eligible for the annual dividend payment prior to Sept.
The Alaska Permanent Fund was created by Alaskans coming together and voting to amend the Constitution to dedicate, save, and invest a portion of the state’s oil and mining revenue to benefit all generations," Deven Mitchell, executive director of the Alaska Permanent Fund Corporation, wrote. "As a public endowment, the wealth of the Fund is the responsibility of every resident of the state.
The fund’s principal is constitutionally protected and grows each year, and a minimum of 25% of royalties from leases and other income related to oil and mineral development are contributed to the fund. The proceeds of the fund can be spent and are used to finance the dividend payments to residents.