The annual payment was already sent out to two batches of eligible residents during the first two disbursements on Oct. 5 and Oct. 18. The next round of payments is set to be sent out on Nov. 16, and the payments are worth $1,312 per resident for this year.
To be eligible for the 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. Residents may apply for the state program from Jan. 1 to March 31 each year.
Those who will receive their payment from the program on Nov. 16 include those who have the “Eligible-Not Paid” status on Wednesday and have yet to receive their 2023, or earlier, payment from the Permanent Fund Dividend.
“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.”
“This year, we processed over 8,000 more applications than in 2022,” the statement read. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”
Officials in Alaska say the Permanent Fund Dividend amount is based on mineral revenues for the state that year, with them saying the program is meant “to benefit current and future generations.”