Around 6,00,000 Alaskans are set to get a $1,000 payout this year from the Permanent Fund Dividend (PDF), which is financed by natural resource earnings.

The dividend is funded by earnings from Alaska's natural resources, like oil and gas. It is a sort of bonus that Alaskans get for living in the state.

— This year's payout is one of the lowest in 20 years.

— There used to be a formula for calculating the amount, tied to the fund's market performance.

— However, lawmakers widely abandoned the previous calculation formula due to affordability concerns.

If they had followed the old formula, residents would have got about $3,800 each, according to AP.

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