To promote residency in the state and provide financial assistance to its residents, Alaska is offering a $1,702 stimulus payment as part of the annual Permanent Fund Dividend (PFD) program.
This initiative is designed to support families facing financial challenges and encourage people to live in Alaska, a state that often struggles with attracting new residents due to its harsh climate.
What is the $1,702 Stimulus Payment?
The $1,702 payment is not a federal stimulus check, but rather the annual dividend paid to Alaska residents through the Alaska Permanent Fund.
This program redistributes a portion of the state’s oil revenue to its citizens to ensure that the benefits of the state’s natural resources are shared among the people. The 2024 payout consists of two parts:
A base dividend of $1,403.83 from the Permanent Fund.
An additional bonus of $298.17.
Both amounts are combined into a single payment of $1,702, which is designed to help ease the financial pressures faced by many Alaskans.
Eligibility for the $1,702 Stimulus Payment
To qualify for the $1,702 Permanent Fund Dividend, applicants must meet certain residency requirements. These include:
- Full Residency in Alaska: You must have lived in Alaska for the entire year of 2024 and show that you intend to remain a permanent resident.
- Absence Limit: Applicants should not have been outside Alaska for more than 180 days in the year, and must not have applied for residency in another state during the same period.
- Criminal Record: Those applying must not have a criminal conviction or record that disqualifies them from receiving the payment.
The purpose of these requirements is to encourage long-term residency in Alaska and to support those who are committed to staying in the state.
Dates for Receiving the $1,702 Payment
The distribution of the 2024 PFD payment will occur in phases:
First Application Distribution: The first round of applications was processed on June 18, 2025.
Second Application Distribution: Applications for the 2024 (and previous) dividend that are marked as “Eligible – Unpaid” on July 9, 2025, will be distributed on July 17, 2025.
Third Application Distribution: Applications marked as “Eligible – Unpaid” on August 13, 2025, will be distributed on August 21, 2025.
These dates are important for residents to remember, as they indicate when the payments will be deposited, depending on when their application status is processed.
Alaska’s $1,702 stimulus payment through the Permanent Fund Dividend program is a key financial support for residents, especially those who are struggling with the current economic challenges.
By offering this payment, Alaska aims to encourage people to live in the state, helping both individuals and families improve their quality of life. If you meet the eligibility criteria, it’s important to stay aware of the application dates to ensure you receive your payment on time.
