"The truck that arrived ahead of schedule at Allyssa Canoy's home in Fairbanks brought enough heating fuel for the frigid winter months ahead - and a surprise bill for $2,600. Canoy and her two sons have checks arriving that will cover that expense and leave some money for the boys, too. Starting Thursday, Alaska plans to begin distributing to residents their annual dividend derived from the state's $83 billion oil wealth fund, a sort of bonus that Alaskans get for living in the state."
"Alaskans are getting $1,000 per person - the lowest amount since 2020, when they each received $992. The payout has been below $1,000 only two other times since 2006. There used to be a formula for calculating the amount, tied to the fund's market performance. But lawmakers widely consider that formula unaffordable and within the last decade have abandoned it."
A truck delivered heating fuel to Allyssa Canoy's Fairbanks home and brought a surprise $2,600 bill, which her upcoming dividend check and those for her sons will cover. Alaska will distribute annual Permanent Fund dividends sourced from an $83 billion oil wealth fund. Lawmakers set this year's payout at $1,000 per person, the lowest since 2020, instead of the roughly $3,800 that the old formula would have produced. The formula tied payouts to market performance was abandoned as unaffordable, and since 2018 earnings have been used to help balance the state budget, affecting dividend size. The fund dates to 1976.
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