Alaska will begin distributing its yearly oil-wealth dividend checks to residents earlier than usual this year, paired with a one-time energy relief payment meant to help Alaskans with high energy costs.
The state will begin sending out the combined payout on Sept. 20, with each resident who applies receiving about $3,200, according to plans unveiled by Gov. Mike Dunleavy and the Alaska Department of Revenue on Friday. The payment will be made in one installment, and a final amount is being considered by officials.
PRICE OF OIL FALLS BELOW LEVEL PRIOR TO RUSSIAN INVASION OF UKRAINE
“I am happy to announce that the PFD deposit day will be early this year, on September 20th, and the dividend is expected to exceed $3,200 per person,” Dunleavy said in a tweet. “Alaskans have waited 7 long years to receive a fair and sizable dividend, and it couldn’t have come at a more important time.”
Most Alaska residents receive a yearly dividend funded through the state’s oil-wealth fund, with payments typically being distributed in the early fall. This year, those payments will be paired with a one-time energy relief payment that is intended to help residents with high energy costs that have sharply increased over the last several months.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
The Department of Revenue is continuing to filter through more than 78,000 applications to determine how many residents are eligible for the benefits, officials said.
Once those are finalized, checks will be distributed starting Sept. 20 for those who applied for direct deposit payments and the week of Oct. 3 for those who requested paper checks.
