Share

Policy: Budgets & Deficits

Permanent Fund tops $50B threshold

|
News,Business,Alaska,Budgets and Deficits

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

View article comments Leave a comment

More from washingtonexaminer.com