FUND NEWS                               Sep 16, 2016

APFC Remains Focused on Investing for Alaskans

September 16 – In response to the lawsuit that was filed today, Angela Rodell, Chief Executive Officer, reaffirms the mission of the Alaska Permanent Fund Corporation and its role in the dividend process.

“Our mission at APFC is to manage and invest the assets of the Permanent Fund for the benefit of all Alaskans,” said Director Rodell. “This year, when the time came to transfer a portion of the earnings generated by the Permanent Fund to the dividend fund, APFC transferred the amount authorized by the appropriation, just as APFC has done for the past three decades. We look forward to final resolution of this issue by the court.”

For this year’s dividend, APFC transferred $695,650,000 to the dividend fund on August 1, 2016. This was the amount specified in the FY17 operating budget bill (HB 256, Chapter 3 4SSLA 16). Any amount in the earnings reserve not transferred this year to pay dividends remains invested alongside the principal of the Permanent Fund.

For more information about the permanent fund dividend, please contact the Department of Revenue’s Permanent Fund Dividend Division.

Any further inquiries on the lawsuit should be directed to Department of Law’s spokeswoman Cori Mills.