Permanent Fund

It was announced last week that this year's Permanent Fund Dividend would be 900 dollars.

Residents of the State of Alaska will see that check in the mail or their bank account on October 3rd.

Today the guest for the weekly Chamber of Commerce was the Chief Executive Officer for the State of Alaska Permanent Fund Program.

He told the audience that the current holdings in the program totaled 47 billion dollars.




Michael Burns went on to say that next year's total would be substantially increased over this year's amount.

"The dividend is driven by a five year formula.

Trailing five years, and next fall of 2014, 2009 falls out of the equation.

That was the big disaster year, that was very negative number. So it should be a big boost in the dividend next year.

All things being equal, so you know we get through the rest of this year, we hope."