Alaska News

First Alaska Permanent Fund dividend deposits expected to go out the week of Oct. 11

JUNEAU — Alaska officials are aiming to make the first wave of dividend payments to residents the week of Oct. 11, a Department of Revenue spokeswoman said.

Genevieve Wojtusik, the department’s legislative liaison, in an email Wednesday said the first wave would include those who filed for dividends electronically. She said the second mass payments, which would include those who filed paper applications, would go out about two weeks later.

The Legislature last week approved, and Gov. Mike Dunleavy signed, a bill including $730.5 million for dividends this year of about $1,100 and for administrative and other related costs. Wojtusik said the final check amount is being calculated and is expected to be announced by Oct. 1.

Dividends typically are paid in the early fall, but this year’s payout wasn’t finalized until the third special session of the year, which ended last week.

Lawmakers first proposed a roughly $1,100 dividend, using money from various sources, but failed to win sufficient support for use of some of the funds. What was left at that time was a dividend estimated to be $525, which Dunleavy vetoed.