Permanent Fund Dividend to be Announced Sept 18

The state plans to announce the amount of this year's Permanent Fund Dividend on Sept. 18.

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by Associated Press

JUNEAU- The state plans to announce the amount of this year's Permanent Fund Dividend on Sept. 18.
The eagerly anticipated event will be held in Anchorage, with acting Revenue Commissioner Angela Rodell making the announcement.
Most Alaskans receive dividend checks, which come from investment profits from the state's oil-wealth savings account.
The amount of investment earnings allocated to dividends is based on a five-year rolling average of the Permanent Fund's performance. The average includes 2009, during the recession, when the fund posted a $2.5-billion net loss in statutory net income.
The Alaska Permanent Fund Corp. last year transferred $605 million to the state Permanent Fund Dividend division for checks. This year, the corporation expected to transfer $604 million.
Last year's dividend was $878, the lowest since 2005.