The first batch of $670 million in Alaska Permanent Fund dividends hits bank accounts Thursday, with an estimated 640,000 residents set to receive the oil-wealth checks this year.
About 615,000 Alaskans whose applications were approved by Sept. 22 will have their $1,100 dividends paid Thursday, according to the Permanent Fund Division, the arm of the Alaska Department of Revenue that distributes the payments.
Subsequent rounds of payments will start Oct. 26 and continue on a monthly basis, according to the department.
About 87 percent of recipients get their PFDs by direct deposit. Paper checks are also mailed starting Thursday.