In light of economic hardship caused by the coronavirus pandemic, Permanent Fund Dividends will make their way to eligible Alaskans months earlier than usual, said Gov. Mike Dunleavy.
Dunleavy closed out a Wednesday evening press conference focused on education by announcing that the Permanent Fund Dividend Division would be working to distribute PFDs on July 1. Typically, they go out in October.
“This has been a difficult situation for everyone — individual Alaskans have been hurt economically, businesses have been hurt economically. We’re going to do all we can to get that going in the right direction,” Dunleavy said. “As a result, we’re going to move up the date for the PFD for Alaskans to July 1. Usually, that goes out in October, but we’re in extraordinary times, and we need to make sure the people of Alaska have cash in their hands to help with this economy. I can’t think of a better time to do it than now, but we’re going to have to wait a month and a half. We’re starting the process right now so come July 1, we’re going to be sending out the Permanent Fund checks to all Alaskans that qualify and are eligible for the PFD.”
How much those checks will be for was not mentioned during the press conference, but previously, the Legislature approved a dividend of $1,000.
As of Wednesday, the Permanent Fund Dividend Division had received 671,364 PFD applications and 85% of applicants’ eligibility has been determined, according to a news release from the governor’s office. The division estimates nearly 600,000 Alaskans will receive payment on July 1.
Because not all applicants will be determined by June 19, Alaskans may receive payments July 23, Aug. 20 or later, according to the governor’s office. The division will pay dividends monthly until all eligible Alaskans are paid.
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