Dividend Days

It's like Christmas without the snow, Santa Claus and cookies. It's permanent fund dividend time, and it officially kicked off Wednesday.

While visions of big-screen TVs danced in the heads of Alaska residents, the checks were deposited in the bank Wednesday afternoon, giving the economy a shot in the arm as people have money to blow.

"We started ordering items about six weeks ago in preparation of today," said Fred Meyer store manager Bill Birky. "We stock up on large items like televisions and electronics that people can buy with their dividends that they may not be able to purchase anytime else."

While it is a retailer's dream, they are not alone. With a huge boost in the bank account, people are ready to buy, buy, buy.

"Each year we do something special together as a family with the money," said Agatha Runie of Palmer, a mother of two children. "Last year, we bought a computer. This year, we are thinking about a new DVD player and stereo."

But not every Runie gets to spend their dividend check. Eight-year-old Tammy Runie said she is using her money for something down the road.

"I'm going to college," she said. Her parents put her and her brother David's checks in the bank every year, hoping to cover the ever-growing cost of college in another decade.

"It's something they will appreciate when they get older," Agatha Runie said.

Other people schedule their vacation time away from work months in advance, and just wait until that check arrives to take care of the last step of a winter getaway -- paying the bill.

"We go to Hawaii every year in January and use our money to live it up for two weeks," said John Hartle of Wasilla. "My wife and I count on that money every year for our trip. We say we take a honeymoon every year. Spending those two weeks together alone on the beach is important to us. We look forward to it all year."

Christal Humphrey's daughter is using the money for tools -- school tools, that is.

"She's a junior at the University of Massachusetts, and she has been wanting a laptop computer for a long time," Humphrey said. "She had everything all picked out and was just waiting for her check to be deposited. My husband and I probably will just put ours in the bank and do whatever with them."

Big-ticket purchases come in waves. Retailers said the dividend boom lasts for about two to three weeks, and it happens twice a year.

"We see the big rush when the checks are automatically deposited in the bank accounts, and then again when they come through the mail," Birky said. "You have to be prepared for both rushes.

Birky said the rush began at Fred Meyer in the afternoon Wednesday.

"I think it's a family thing," he explained. "People come home and when the kids get home from school, they go out to buy what they've been planning on buying. We're pretty well stocked up for it again this year."

Retailers around state count on the money as much as the purchasers do. Big-ticket items are suddenly attainable for people come October, and that means everyone is happy.

"Every year I say we are going to save ours, but we end up doing something fun with it," said Fred Arroyo of Wasilla. "We try to do things we wouldn't be able to do without that check, like go on vacation."

Despite the special sales on snowmachines, new furniture, televisions and other enticing things, some people do actually put that money in the bank for a rainy day.

"Just take a look at what the stocks are doing, and how our economy is going right now, and if you are a smart person, there's no question what you should do with that money -- put it in the bank," said Joanne Frastley. "It's irresponsible to go out and spend that whole check on something you probably don't need in the first place, and then to gripe about how bad the economy is in a month or two.

"They are talking about us not even being able to get a dividend next year because of the way the stock market is going," she said. "That's a sign that things aren't looking all that great."