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The third month of the year is already underway, and residents of Alaska are preparing to receive their Permanent Fund Dividend (PFD) payment from the annual distribution of wealth generated from its natural resources.
The Alaska Permanent Fund was created in 1976, and was made to be able to manage through the Alaska Permanent Fund Corporation the state's oil revenues and distribute them to its residents, who with this income are helped to cover essential costs such as food, housing and health care.
The portion of natural resource earnings that is distributed by the PFD is intended to ensure that the financial benefits of the state's oil and gas revenues go directly to Alaska residents.
The Alaska Permanent Fund Corporation manages the budget that acts as a constant source of annual income for those who qualify.
Who is eligible for Alaska's PFD and when is the next payment?
Applications for the PFD are made each year from January 1 to March 31, by mail or online, and must be submitted for each family member.
For this year, the aid increased to $1,702 dollars and an estimated 600,000 Alaska residents are eligible.
On the PFD website, they state that "2024 (and prior year) dividend applications that are in 'Eligible-Not Paid' status on March 12, 2025, will be distributed on March 20, 2025."
To be eligible, you must be a ed resident of Alaska, have lived in the state for a minimum of 12 months and have no plans to leave Alaska in the near future.
It is essential to have had a minimum of 72 continuous hours within Alaska in the previous 24 months and they must not have been incarcerated for a felony within the last 12 months, or for a misdemeanor if they were previously convicted of a felony or two misdemeanors since January 1, 1997.