(SitNews) Juneau, Alaska - Friday, the Alaska Department of Revenue announced the amount of the 2020 Permanent Fund Dividend (PFD) is $992. Beginning July 1, an estimated 580,000 Alaskans, representing nearly 90 percent of PFD applicants, will receive their dividend by direct deposit or check. The decision to distribute the PFD three months early was made by Governor Mike Dunleavy in response to the economic impacts of the COVID-19 pandemic.

Alaskans who are determined eligible by June 19, 2020 and chose direct deposit will see funds in their bank accounts on or shortly after July 1. Eligible applicants receiving a paper check will have their checks in the mail starting on July 1. Dividend applications that have not been determined by June 19 will be paid out on a monthly basis by check or direct deposit beginning July 23. This year, the Permanent Fund Dividend Division saw a record number of Alaskans sign their application electronically at 92 percent.

Alaskans are encouraged to use the state’s website MyPFD to check the status of their PFD application.

2020 marks the 39th year Alaskans have received a share of the state’s natural resource wealth. Following the 2020 dividend payment, the estimated total of all funds disbursed to Alaskans, including the one-time 2007 Resource Rebate, will exceed $25 billion dollars.

Edited By Mary Kauffman, SitNews

Source of News:

Alaska Department of Revenue
www.dor.alaska.gov

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