State will start issuing dividends Sept. 20

JUNEAU (AP) — The state plans to begin distributing this year’s oil-wealth dividend and a special energy relief payment to residents on Sept. 20.

The timeline was announced last Friday by Gov. Mike Dunleavy and the state Department of Revenue.

The combined payout for the Permanent Fund dividend and energy relief payment is estimated at around $3,200 per person; a final figure is pending. Residents will receive the money as one payment, the department said.

The energy relief payment was approved by lawmakers as a one-time benefit this year to help residents with high energy costs.

The energy relief portion of the payment will be about $600; the traditional Permanent Fund dividend about $2,600. Combined, the payments to Alaskans will total almost $2.1 billion, the single largest expenditure in the state budget.

The department said it was still in the process of determining eligibility for more than 78,000 applicants. The number of eligible Alaskans has ranged between 630,000 and 640,000 each of the past five years.

Checks for last year’s dividend began going out the week of Oct. 11, 2021. Last year’s dividend was $1,114.

The dividends are typically paid in the early fall, but the governor and many legislators wanted an earlier distribution this year to help Alaskans cope with rising fuel prices and inflation.

Checks will start going out to those who requested payments by direct deposit starting Sept. 20 and for those who filed a paper application or requested a paper check starting the week of Oct. 3, according to the Department of Revenue.

 

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