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Alaskans: State to announce value of 2012 Permanent Fund Dividend

Alaska Dispatch

The mercury is shriveling, rains have returned and Cal Worthington is hawking used cars for $95 down, meaning only one thing: Alaskans will soon receive free money -- lots of it -- just for breathing Alaska air.

How much will the 2012 Alaska Permanent Fund Dividend check be worth? Department of Revenue Commissioner Bryan Butcher will announce the value of this year's giveaway Tuesday, Sept. 18, at 11 a.m., according to a press release from the governor's office. 

RECOMMENDED: ALASKA PFD INDEX

Money for the annual check comes from a sovereign wealth fund set up back in the 1980s, to return some of Alaska's mind-boggling oil wealth back to residents before spendthrift lawmakers or wild-eyed governors bet it all on the "next big boom." The Alaska Permanent Fund is currently worth more than $41 billion.

Anyone who's lived in Alaska for 12 calendar months (Jan. 1-Dec. 31) and meets a few other very basic qualifications becomes eligible to apply for the next year's dividend

Generally, the check is worth between $700 and $1,100.

Find out more here about how the check amount is determined.