Permanent Fund Dividend will be $2,072

This year's Permanent Fund Dividend will be $2,072, according to an announcement made by the Alaska Department of Revenue on Monday.

Current-year dividend applications that were in "eligible-not paid" status by Sept. 18 will be distributed next Thursday, Oct. 1. Residents of Alaska for at least a year may be eligible for a PFD, providing other criteria under state statute have been met.

The 2015 PFD is higher than last year's payout of $1,884. Not taking inflation into account, the 2015 PFD is the highest since the first dividends were distributed in 1982. However, the $1,000 distributed in the initial year would today be worth $2,469.60. But this year's fund is the largest since the $2,069 distributed in 2008, which after inflation would be worth $2,290.

The Alaska Permanent Fund was created by constitutional amendment in 1976, derived from a quarter of all mineral lease rentals, royalties, royalty sales proceeds, federal mineral revenue-sharing payments and bonuses received by the state. Managed for the public by the APF Corporation, the fund currently stands at $51.46 billion.

The dividend calculation takes into account the number of eligible Alaskan applicants in a dividend year, and half of the statutory net income averaged over the five most recent fiscal years. Funds available for distribution are also reduced by prior-year dividend obligations, PFD operation expenses and other state agency program appropriations.