The Nation - News from Dec. 23, 1986

Just in time for Christmas, Alaska mailed out the last batch of checks in its annual end-of-the-year cash giveaway. A check for $556.26 was mailed to each of Alaska’s 528,964 permanent residents, including children. Alaska puts at least 25% of its oil royalties into a savings account called the Permanent Fund. The fund’s principal may not be touched; it is invested, and half of its earnings are divided by the number of residents to determine the amount of each year’s Permanent Fund dividend check.