 Smaller Dividends Expected for Next Several Years September 27, 2002
An estimated 591,537 Alaskans will receive this year's dividend, an increase from the 586,052 who have received the 2001 dividend of $1,850.28. This year's disbursement will total $911.42 million. Revenue Commissioner Wilson Condon announced the amount of the 2002 dividend at Wednesday night's annual meeting of the Alaska Permanent Fund Corporation in Juneau. "We can expect smaller dividends for the next few years," Revenue Commissioner Wilson Condon said. "The dividend is based on the fund's average earnings over five years, and it will take awhile to overcome these low market years in that average." The fund's total market value at the end of Fiscal Year 2002, on June 30, 2002, was $23.5 billion, down from $26.5 billion on June 30, 2000. Alaskans who requested direct deposit of their dividends will see the money in their accounts October 9. The Dividend Division will start mailing checks October 17 to applicants who did not select direct deposit. It will take a couple of weeks to mail all of the checks. The Dividend Division is still working on about 7,700 applications in review, and expects to issue its decisions on those cases by early January.
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