Alaska’s Permanent Fund Dividend (PFD) program has officially confirmed that eligible residents will receive a $1,702 payment in 2024. This is a significant increase of nearly 30% compared to last year’s payout, reflecting the state’s economic success and its commitment to sharing its natural resource wealth with its people.
Amount
The 2024 PFD payment totals $1,702 for each qualified resident. This amount includes two components: an energy assistance check of $298.17 and the Permanent Fund dividend itself, which is $1,403.83. The increase in this year’s payment is due to Alaska’s robust revenue from its oil and gas resources, totaling $914 million, as announced by Governor Mike Dunleavy during sessions with the House of Representatives.
This payment aims to help residents cope with the rising cost of living, particularly during the harsh winter months when heating and energy expenses soar.
Eligibility
To qualify for the 2024 PFD payment, applicants must meet specific residency and legal requirements, including:
- Being a registered resident of Alaska.
- Living in Alaska for the entire calendar year before the application date.
- Planning to remain in Alaska indefinitely at the time of application.
- Not having applied to live in another state or country.
- No immediate plans to leave Alaska.
- Not having been incarcerated for a felony in the last 12 months.
- Not having served time for a misdemeanor since January 1, 1997.
These conditions ensure that the dividend supports residents who are committed to living in Alaska and contributing to the state’s community and economy.
Distribution
More than 600,000 Alaskans are expected to receive the PFD payment for this fiscal year. The state has set a deadline of March 31 for deposits to be made to residents who have already submitted their applications. Those who still need to apply can do so online at the official PFD website: pfd.alaska.gov.
| Payment Component | Amount |
|---|---|
| Energy Assistance Check | $298.17 |
| Permanent Fund Dividend | $1,403.83 |
| Total Payment | $1,702.00 |
Reason
The increase in the 2024 PFD payment is not only a result of the state’s financial success but also a response to the severe snowstorms that hit Alaska this winter. The state government decided to raise the payment amount to help residents manage higher energy and heating costs during the harsh weather conditions.
This proactive measure highlights Alaska’s commitment to supporting its residents by utilizing its natural resource revenues to address seasonal challenges and improve the overall quality of life for Alaskans.
Alaska’s Permanent Fund Dividend continues to be a vital financial support for many residents, especially during challenging times. The 2024 increase reflects both the state’s economic strength and its dedication to its citizens’ well-being. If you qualify and haven’t applied yet, make sure to do so by visiting pfd.alaska.gov before the deadline to secure your payment.
FAQs
How much is the Alaska PFD payment in 2024?
The PFD payment is $1,702, including $298.17 for energy assistance.
Who is eligible for the 2024 Alaska PFD?
Registered Alaska residents who meet residency and legal requirements.
What is the deadline for PFD payment deposits?
Deposits will be made by March 31, 2024, for early applicants.
How do I apply for the Alaska PFD?
Applications can be submitted online at pfd.alaska.gov.
Why was the 2024 PFD amount increased?
To help residents with energy costs after severe winter snowstorms.
