PFD payment is $900

JUNEAU — Eligible Alaskans will receive $900 Permanent Fund Dividend payments beginning with direct deposit payments Oct. 3, according to Acting Revenue Commissioner Angela Rodell. Paper checks also will be mailed from Juneau Oct. 3.

The Alaska Department of Revenue reports that 670,865 Alaskans applied for the 2013 dividend — a decrease of about 7,000 applications from 2012.

Most people receive their PFDs via direct deposit — 507,000 compared to 86,000, who will receive checks by mail.

The total distribution is more than $576 million, according to the Alaska Department of Revenue.

The program was created to disperse part of the state’s oil wealth annually to eligible residents. Alaskans can check the status of their PFDs online at 1.usa.gov/18eqj84.

Since its implementation in 1982, the dividend program will total more than $20.7 billion, according to the Department of Revenue.

In terms of purchasing power, Jonathan King of Northern Economics said 2013 is the fourth smallest payment in terms of purchasing power.

“On a nominal basis, the announcement means a larger dividend than last year’s $878 amount,” he said. “However, when adjusted for inflation, last year’s dividend was worth $902.12 in 2013 dollars, which means this year’s divided will buy less than last year’s.”

So far, Alaskans have pledged about $2.5 million from their dividends to the Pick.Click.Give. program, which benefits Alaska nonprofits.