Tuesday, September 20, 2011
Alaskans will benefit from a $1,174 Permanent Fund Dividend check
In October, Alaskans will benefit from a $1,174 Permanent Fund Dividend check. The check is the result of a Constitutional requirement to place 25% of all mineral lease and royalty revenue, plus additional monies allocated by the Legislature, into the “Permanent Fund”.
This fund earns investment income, which is paid out as dividends (50% of income), reinvested, or used to run state government.
With oil production declining, fewer dollars can be put into to the Permanent Fund to generate income to be paid out as dividends in the future. All Alaskans have a stake in helping Gov. Parnell achieve his goal of increasing oil production by 500,000 barrels per day over the next decade.
We should all think of ways we can responsibly make that vision a reality.