PFD checks will be exactly $900

by Angela Denning-Barnes on September 18, 2013

(AP) — Nearly every Alaska resident will receive a check for $900, as this year’s share of the state’s oil wealth.

Acting Revenue Commissioner Angela Rodell made the announcement during a Wednesday morning ceremony in downtown Anchorage.

This year’s payout wasn’t expected to be much because of the recession.

The dividends are distributed annually to people who have lived in Alaska for at least one calendar year. The amount is based on a five-year rolling average of the $47 billion Alaska Permanent Fund’s investment earnings.

This year’s average includes 2009, a recession year when the fund posted a $2.5 billion net loss in statutory net income.

Last year’s dividend was $878 per person, the lowest since 2005.

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