ANCHORAGE, Alaska (AP) — The Alaska Permanent Fund ended the fiscal year with a value of $51.2 billion.
Officials say in a release it's the first time that the fund, which provides the annual oil-wealth checks to the state's residents, has topped the $50 billion mark.
The rise was attributed to a strong year for the fund's $21 billion stock portfolio.
Officials also transferred $1.2 billion of statutory net income to the Permanent Fund Dividend Division for this year's annual PFD payment. KTUU reports (http://is.gd/lh6sFJ) that's double what was transferred for last year's check.
Nearly every single resident of the state in 2013 received a check for $900 for their share of the state's oil wealth.
Information from: KTUU-TV, http://www.ktuu.com