What is the Alaska Permanent Fund Dividend?

The Alaska Permanent Fund Dividend is a yearly sum of money paid to residents of Alaska that have lived in the state for a full year, and intend to continue as a resident of Alaska indefinitely.

Where have you heard about the Alaska Permanent Fund Dividend?

The Permanent Fund Dividend is extremely popular with residents of Alaska. Experts have called it the closest thing the world has to universal basic income and the annual payout frequently makes headlines globally.

What you need to know about the Alaska Permanent Fund Dividend.

The money is paid to residents from the Alaska Permanent Fund, which was set up in 1976 during the construction of the Trans-Alaska Pipeline System, when the state was generating large amounts of money from oil resources. As oil is not a renewable resource, the state created the fund so that at least 25% of the oil money would be saved for future generations. In 1980, governor Jay Hammond created the Permanent Fund Dividend, paying a portion of the savings to residents.

Find out more about the Alaska Permanent Fund Dividend.

To better understand the Alaska Permanent Fund Dividend, it's helpful to permanent funds and dividends.