Date set for permanent fund dividend announcement

Posted: Thursday, September 04, 2003

JUNEAU (AP) The Alaska Permanent Fund Corp. will announce the amount of the 2003 fund dividends Sept. 24 at its annual meeting.

The meeting will be at the Anchorage Marriott Hotel.

Paul Dick of the Department of Revenue said direct deposit of dividends is scheduled for Oct. 8.

Checks sent by mail will be printed beginning Oct. 15. The goal is to have them all out by the end of October, Dick said.

Checks are expected to be several hundred dollars smaller than the $1,540.76 residents received last year. Corporation officials predicted earlier this summer that it could go down to around $1,100.

The number of applicants affects the size of checks. The corporation received about 617,000 applications this year, up about 5,000 from last year.

However, the Revenue Department is waiting for additional information from about 19,000 applicants. The deadline for responding is Oct. 31.

The permanent fund is a state account created in 1976 by voters. Initially enriched with petroleum earnings, the fund now also earns millions from interest and investments.

Dividends are paid to Alaskans from earnings.

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