The Alaska Permanent Fund, now with $19 billion in assets, is celebrating its 20th anniversary this year by reporting its biggest one-year gain in realized income and its biggest dividend payout to each resident of the state.
The dividend cost the fund $613 million, or $1,130.36 for each of the state's 543,000 residents, including children, who have lived there at least one year. The fund began sending out the dividend checks Oct. 9.
That was the highest annual dividend ever paid to individuals and the highest total annual payout for the fund, which has paid dividends for 15 consecutive years.
The fund had a 13.43% total return for its fiscal year ended June 30.
The fund earned $1.814 billion in income from investments, its highest such income from dividends, interests and realized capital gains.
The fund's realized income topped for the first time ever the total the state received from oil revenue, which totaled $1.8 billion.
Not included in the fund's investment income is another $445 million in unrealized investment appreciation and $264 million in oil royalties.
The fund receives 25% of the oil royalties paid to the state, a share that amounts to about 14% of all the royalties, severance taxes, property taxes and corporate income taxes the oil companies pay to the state.
In all, the fund's revenue and unrealized gains for the year totaled $2.5 billion.
The growth of the fund's income indicates the fund is moving toward its intended purpose by constitutional referendum of being able eventually to replace the oil royalties as crude production declines.
However, none of the fund's income or revenue is going to the state.