With gas prices at a high “When adjusting for inflation, this year’s dividend ranks as one of the smallest in the 42 years of the Permanent Fund dividend’s existence.”

The 2023 Permanent Fund dividend will be $1,312, the Alaska Department of Revenue said Thursday.

The annual payments to Alaskans will be disbursed beginning Oct. 5 and continue in the following weeks, the department said.

The Permanent Fund dividend amount hasn’t followed the dividend formula set in state statute since 2016 — with lawmakers saying the formula is untenable. For several years, a draw from the Permanent Fund has made up a large part of the state’s spending on services like education and public safety.

This year, the $1,312 dividend will amount to more than $881 million in total state spending, with more than 600,000 Alaskans eligible for the payment. The Department of Revenue said Thursday that 8,000 more applications were processed in 2023 compared to the previous year.

www.adn.com/alaska-news/2023/09/21/alaskas-2023-permanent-fund-dividend-is-set-at-1312-paid-starting-in-early-october/