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Alaska to give each resident over $3,200 from oil producers

Posted at 10:49 AM, Sep 22, 2022

Officials in Alaska recently announced that residents will each receive $3,284 from the state’s Permanent Fund Dividend. The fund is paid for by the state’s oil producers.

The fund is open to those who were considered Alaska residents for all of 2021 and who intend to remain in Alaska. The fund also stipulates other certain residency requirements.

The fund is open to children and adults.

The Permanent Fund Dividend was established in 1976.

“The PFD is equitable since it compensates everyone equally, even future generations, regardless of who’s in power or their political opinions. Finally, the PFD is sustainable since the Permanent Fund can generate returns forever, even if there is no new injection of cash from taxpayers,” said Alaska Gov. Michael Dunleavy.

The fund fluctuates every year. The 2022 dividends are nearly three times higher than 2021’s.

As of 2020, Alaska had the sixth-highest cost of living in the nation, according to the U.S. Bureau of Economic Analysis.