Alaska residents have been receiving annual dividend payments from the state’s Permanent Fund for 41 years, but the 2022 payout is one of the largest in history. Every resident received $3,284 this year, with most payments issued in September and October.
Permanent Fund Dividends (PFD), are larger than normal thanks in part to the addition of a $662 energy relief payment. Rather than send out a separate payment, as other states have done, Alaska rolled the energy relief payment into this year’s PFD payout.
Alaska Dividend: 2022 Details
In 2021, the PFD amount was $1,114, and for a short time, it seemed as though Alaskans might receive as much as $5,500 from the state in 2022. When oil prices climbed after Russia’s invasion of Ukraine, Alaska, a top oil producing state, anticipated a surge in revenue. What’s more, in an election year, some lawmakers apparently felt pressure to follow through on campaign promises to deliver a large dividend.
The Alaska Senate passed a budget that included a $4,200 PFD and a $1,300 energy relief payment. However, the price tag—an estimated $3.6 billion—was too much for a majority of members in the House to stomach.
For the rest of this article: https://www.forbes.com/advisor/personal-finance/alaska-dividend-2022/