Alaskans Receive Record Dividends of $3,284 – by Maryalene LaPonsie (Forbes Magazine – November 10, 2022)

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: