The size of this year's Permanent Fund Dividend is $878.
That's $296 lower than last year's total
of $1,174.
The commissioner said the main reason for that is the continued
inclusion of 2009 in the five year average used to calculate the
dividend.
He says the year that dropped out, 2008, was a pretty successful year.
Fiscal Year 12 was added in which he says only made a couple hundred
million dollars.
Butcher says as long as Fiscal Year '09, which lost billions of dollars,
remains in the calculation the PFD will be a little lower.
He says next year's dividend will be the
last year that 2009 is part of the five year equation. It will be
replaced by the current year which the commissioner says has been a
pretty good year.
Assuming something catastrophic doesn't occur, the commissioner says the
dividend should begin working its way back up.
Direct deposit and the mailing of this year's check is scheduled for
Thursday, October 4.
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The Department of Revenue says an estimated 646,805 eligible Alaskans
will receive a 2012 Permanent Fund Dividend. The department reports
677,733 applied for the which is an increase of approximately 1,500
applications over 2011.
A total of 515,000 applicants will receive a direct deposit into their
bank account, and 85,000 will be mailed a check. Those who chose paper
check delivery will have it enter into the mail stream on October 4 in
Juneau. The actual delivery date will vary by applicant location.
More than $470 million will be directly deposited into Alaskans' bank
accounts this year, with a total distribution, including checks, of
$567,338,304.39.
Beginning October 25 and continuing monthly thereafter, applications
that become eligible will be paid by either check or direct deposit.
This year marks the 31st dividend paid to Alaskans. The total potential
distribution of Permanent Fund Dividends to date is $34,243.41 per
person, which does not include the $1,200 Alaska Resource Rebate
distributed in 2008.
Following the 2012 dividend payment, the total funds disbursed to
Alaskans by the division, including the Resource Rebate, since inception
of the dividend program will total approximately $20.1 billion.