The Permanent Fund Dividend (PFD) program remains a vital initiative for Alaskan residents, allowing them to share in the state’s revenue generated from oil and mineral resources. This annual distribution serves as a financial benefit, returning a portion of the state’s wealth directly to its people.
This year, the PFD consists of a regular dividend of $1,403.83 along with an additional $298.17 energy relief payment, which was approved by the Legislature. Combined, Alaskans can expect to receive over $1,700, marking an increase of approximately $400 from last year’s total of $1,312.
State officials have announced that more than 600,000 residents are expected to qualify for the PFD this year. Those who applied electronically for direct deposit will begin receiving their funds on October 3, 2024, while paper checks will be mailed starting October 26, 2024.
Payment Distribution in Two Installments
This year’s PFD payments will be split into two installments. The first installment, amounting to $1,312, will be distributed on October 3, while the second payment is set to be released on October 24, 2024. Residents who submitted their applications before the deadline and have a status marked as “Eligible Not Paid” can expect their payments in accordance with this schedule.
Eligibility Requirements
To qualify for the PFD, applicants must have lived in Alaska for the entire previous calendar year, ensuring a continued connection to the state. In addition, individuals with criminal convictions are disqualified from receiving the dividend, as the program is designed to benefit those who contribute positively to the Alaskan community and economy.
Application Status Tracking
For residents who applied on time, tracking the status of their PFD application is straightforward. Applicants can log into their MyPFD account on the official PFD website, using their Social Security Number and relevant credentials to monitor their payment status.
