Alaskans to get $878 in yearly oil wealth payout

1:36 PM, Sep 18, 2012   |    comments
Credit: AP/file.
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RACHEL D'ORO
Associated Press

ANCHORAGE, Alaska (AP) - Alaskans' annual reward is here: $878 simply for living in the state.

State officials on Tuesday announced this year's payout from Alaska's oil savings account.

The dividends are handed out annually to all men, women and children who have lived in Alaska for at least one calendar year.

This year's amount is significantly less than last year's dividend of $1,174, which was the smallest since 2006. The payout will be distributed Oct. 4.

Alaska has no state income tax, but residents must pay federal taxes on the bounty. What they do with the rest is up to them.

Sina Takafua in the nation's northernmost town of Barrow plans to spend her first-ever Alaska Permanent Fund dividend on bills to get ahead of her debts.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

AP

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