$1,702 dividend to be received by Alaska’s residents on July 17: Know more and check details

Alaska’s Permanent Fund Dividend Program will distribute $1,702 stimulus payments to eligible residents.

Alaska’s Permanent Fund Dividend (PFD) Program will be rolling out $1,702 stimulus payments. Those beneficiaries whose payments status reflected “Eligible-Not Paid” as of July 9 are eligible to receive this payment, as per the program’s official website. The fund is meant to help distribute the state’s earnings from oil reserves and is calculated using various factors such as oil prices and investment performance.

Eligible Alaskan residents will receive $1,702 through the Permanent Fund Dividend Program, with payments on July 17 and August 21 for those marked Eligible-Not Paid. (Unsplash)

Applications for the 2024 dividend closed on March 31 this year. Applications for next year will be open from January 1 to March 31, 2026.

Eligibility criteria

As per fund’s official website, a user must have the following to be considered eligible to receive the payment:

· Resident of Alaska through all of calendar year 2024

· Intent to remain an Alaska resident indefinitely when applied for the 2025 PFD

· Not claimed residency in any other state or received any benefit as result of making such a claim at any time since December 31, 2023

· Not sentenced as a result of a felony conviction during 2024, incarcerated at any time during 2024 as the result of a felony conviction or incarcerated at any time during 2024 as the result of a misdemeanor conviction in Alaska if convicted of a prior felony or two or more prior misdemeanors since January 1, 1997

· Not absent from Alaska for more than 180 days without an allowable absence

· Physically present in Alaska for at least 72 consecutive hours at some time during 2023 or 2024

Amount to be received

“The 2024 Permanent Fund Dividend (PFD) amount is $1,702,” states the official website. For this year, the annual dividend is worth $1,440 while the rest is credited to an energy relief bonus due to elevated oil prices.

When and how can I expect the payment

“Make sure your address is current on your application. If you electronically signed your PFD application, you can sign into "myPFD" and update your address online OR you can complete the Address Change Form, and submit it to one of our offices,” says the official PFD website.

Those whose payment status showed “Eligible- Not Paid” as of July 9 will be receiving their payments on July 17. Another round of payments is scheduled to be distributed on August 21 for those whose status reflects the same on August 13.

Payments are delivered either in the form of direct deposits or mailed paper checks, depending on the beneficiary’s noted preference.

By Stuti Gupta