PFD amount: $1,850.28

The 2001 Alaska Permanent Fund dividend is $1,850.28, down $113.58 from last year. Even with the drop, this year's dividend is the second highest in the program's 20-year history.

"The stock market took a sharp turn downward over the past year, and it's no surprise that the permanent fund had lower earnings just like every other investor," said state Revenue Commissioner Wilson Condon. "We invest for the long term, which means we will see some short-term dips along the way."

As usual, Mat-Su retailers are expecting a windfall on Oct. 10 -- direct deposit day.

"It's a good shot in the arm for sales, obviously, there's a lot of people already shoppin," said Hank Hartman, owner of Matanuska Music in Wasilla.

Hartman said he has about a dozen instruments already on layaway for customers he expects will pay off their purchase when the dividend arrives. Some customers are looking at high-end instruments that will eat most of their dividend, others are parents looking to reward a child.

"The check gives families a chance to get the kids started on a better instrument sooner than they would have," he said. "The schools have a lot of really worn-out instruments and let's face it, they aren't getting replaced anytime soon."

At Alaska Frontier North Pawn in Wasilla, manager Clay Kedzior said the high-end items such as power tools, electronics and weapons tend to move faster at dividend time. And there are always customers who borrow money against their property and use the dividend to square things.

"The majority of the money is just people picking up their own property," Kedzior said.

An estimated 590,423 Alaskans will receive the 2001 dividend, an increase over last year's 585,878. This year's dividend distribution will total an estimated $1.09 billion, down from $1.15 billion last year. About 400,000 of this year's dividends will go out as direct deposit -- the highest number since the program was offered starting in 1993.

The total market value of the Fund on June 30, reflecting the value of all of the investments in the portfolio, was $24.815 billion, down from $26.516 billion a year ago.