ANCHORAGE, Alaska (AP) — Most Alaskans will soon be $2,072 richer just for living here.
That's the amount eligible residents will receive this year from the state's oil investment account. Low oil prices have plunged Alaska into a crippling budget deficit, but it didn't affect the size of the payout.
State officials had a seventh-grade student announce the eagerly anticipated amount Monday. The payout set for Oct. 1 is larger than last year's $1,884 checks.
The amount is based on a five-year rolling average of worldwide markets, which no longer includes the recession years more widely felt outside Alaska.
As always, many dividends will go toward new toys or to more pragmatic expenditures such as paying credit card debt or padding college savings accounts.
Dividends have been distributed since 1982.