Alaskan residents receive $1,702 Permanent Fund Dividend soon

Eligible Americans are set to receive direct payments of $1,702 soon. These funds will be processed in the next week. Residents of Alaska are particularly benefiting from this, as they will get their annual stimulus checks known as the Permanent Fund Dividend (PFD). To qualify for the PFD, residents must have lived in Alaska for more than a year. The dividend comes from the state's oil revenues. The application period runs from January 1 to March 31. It aims to support Alaskans who are committed to staying in the state long-term. Residents can apply through their MyAlaska accounts on the state’s government website. Although some payments have already started, there is still time for others to apply. Those who do so by March 31 will receive the full amount of $1,702. Not everyone qualifies for this payment. Applicants must have lived in Alaska throughout the previous calendar year and should have not lived in another state or received benefits elsewhere since December 31, 2023. They must also have spent at least 72 consecutive hours in Alaska during each of the last two years and cannot be away from the state for more than 180 days. The PFD not only rewards Alaskans for their loyalty but also encourages them to remain in the state. This helps boost the local economy and strengthens community ties among residents.