Alaska Issues New Oil Dividend to Its Residents

Alaska issues new oil dividend: Payment of $1,702 per resident

Disbursement begins May 15

Must prove continuous residency

This Thursday, May 15, thousands of Alaska residents will receive a new payment from the Permanent Fund Dividend (PFD), the state program that distributes a portion of oil revenues to the population.

Why the New Alaska Oil Divident matters:

The PFD represents direct economic support for those who meet the residency requirements. This year, the amount reaches $1,702 per person, a 30% increase from 2024.

Between the lines:

The payment of the 2025 Oil Dividend is composed of two parts:

$1,403.83 from the traditional dividend

$298.17 as a bonus for high energy costs

Key quote:

“The dividend helps strengthen the local economy by boosting internal consumption and providing relief during times of inflation,” state authorities emphasized.

Alaska Issues New Oil Dividend to Its Residents / Photo: Canvas

Requirements to apply for the Permanent Fund Dividend:

Have resided in Alaska for the entire year of 2024

Demonstrate intent to remain in the state

Have been physically present for at least 72 hours in the past 2 years

Have no recent felony convictions or multiple minor convictions since 1997

Key dates:

Applications open for the Permanent Fund Dividend: January 1 to March 31, 2025

Deadline: April 1

Payments for those with “Eligible-Unpaid” status as of May 7: May 15, 2025

Overview:

The Permanent Fund Dividend was established in 1976 with the goal of ensuring that oil benefits reached citizens directly. Since 1982, it has become an anticipated source of income that positively impacts the state’s economy.

You may also be interested in: Trump Promises Historic Drug Price Cuts of Up to 80%