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Economy

2016 PFD Amount Announced

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Office of Governor Bill Walker
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SOA

This year's Permanent Fund Dividend amount has been announced, and the payout will be $1,022 per eligible Alaskan.

Governor Bill Walker made the announcement this morning through the release of a video recorded at Valley Pathways High School in Palmer.

“There you go, $1,022. So I'm glad that given our loss of 80 percent of our revenue that we are still able to have a dividend over one thousand dollars, and I will look forward to working with the legislature to ensure that that will continue on for generations to come," said Walker.

Walker says that the PFD would have been about twice as big this year, but that he vetoed half of it to preserve the fund and dividend for future years. The total payout for this year was projected to be around $1.3 billion, higher than next year’s projected $1.2 billion total for dividends.

The PFD will be distributed beginning October 6.

Last week, a lawsuit was filed by a state senator and two former lawmakers contending that the Governor did not have the power to reduce the dividend amount with a veto.  That lawsuit seeks to restore the vetoed portion, but has not yet been heard by the State.