ANCHORAGE, Alaska (AP) — While the economy continues to recover, the worst of the recession was very much felt by Alaskans on Wednesday who learned their annual check from the state's oil-wealth fund would be a small one.
Nearly every Alaska resident will receive a check for $900, acting Revenue Commissioner Angela Rodell announced at a ceremony in downtown Anchorage.
The amount of each person's dividend is based on a five-year rolling average of worldwide investment markets that were hard-hit far outside Alaska. This year, the calculation means the checks were smaller, certainly nowhere near the record payout of $2,069 in 2008.
But hey, it's still free money just for living in the northernmost state.
The money, about $576 million total, will be distributed Oct. 3. About 507,000 Alaskans will receive the money through direct deposit that day, and another 86,000 checks will be mailed from Juneau for those that didn't choose to have it put into their bank accounts.
