(MENAFN- Live Mint) Around 6,00,000 Alaskans are set to get a $1,000 payout this year from the Permanent Fund Dividend (PDF), which is financed by natural resource earnings.

The dividend is funded by earnings from Alaska's natural resources, like oil and gas. It is a sort of bonus that Alaskans get for living in the state.

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- Dividends have been paid since 1982.

- This year's payout is one of the lowest in 20 years.

- There used to be a formula for calculating the amount, tied to the fund's market performance.

- However, lawmakers widely abandoned the previous calculation formula due to affordability concerns.

If they had followed the old formula, residents would have got about $3,800 each, according to AP.

The dividend payout money is mostly used to put it into college funds or savings accounts or donate to charities. Some residents rely on it for heating oil, winter tires or snowmachines.

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- To be eligible for a PFD, you must have been an Alaska resident for the entire calendar year preceding the date you apply for a dividend and intend to remain an Alaska resident indefinitely at the time you apply for a dividend.

- There are other criteria for eligibility under Alaska Statute 43.23.005 and AS 43.23.008.

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Yes, the application period is January 1 through March 31 every year.

How to check the status of dividend application?

You may check the status any time through 'myPFD '. If you applied by paper, allow 4 to 6 weeks for processing before checking the status of your application.

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No, all Americans won't receive the payment on the same day.

- If your application says 'Eligible – Not Paid' on November 12, you will get your payment on November 20.

- If application status says 'Eligible-Not Paid' on December 10, 2025, it will be distributed on December 18, 2025.

- If the dividend applications status on January 07, 2026 says 'Eligible-Not Paid', then the payment will be distributed on January 15, 2026.

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