ANCHORAGE, Alaska (KTUU) – The first mass payment for 2025 Permanent Fund Dividends, which the legislature set last session at $1,000, will be Oct. 2.
The PFD website says it applies to dividend applications in “Eligible-Not Paid” status by Sept. 18, including applications filed online with a valid direct deposit.
This year’s second mass payment for applicants eligible by Oct. 13, including all applications paid by check or direct deposit, will be paid by Oct. 23, according to the Department of Revenue.
In May, lawmakers passed a budget including a $1,000 dividend as they adjourned for the year.
The legislature’s role in setting the PFD has remained an ongoing political debate since the Alaska Supreme Court ruled in 2017 PFD payments require legislative appropriation and are subject to the governor’s veto power.
While the statutory formula, historically used to calculate dividends since becoming law in the 1980s still exists, since the ruling lawmakers have determined each year’s amount through the appropriation process.
The statutory formula had historically taken 21% of the Permanent Fund’s average net income over the past five years, divided that in half, subtracted expenses and then divided the remainder by the number of eligible Alaskans to determine each person’s dividend amount.
Last session, some lawmakers proposed appropriating a $3,892 per person PFD based on the statutory formula.
The 2024 PFD amount was $1,702. The legislature sets the PFD amount annually based on budget constraints and competing priorities.
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