- Associated Press - Friday, August 8, 2014

ANCHORAGE, Alaska (AP) - The Alaska Permanent Fund ended the fiscal year with a value of $51.2 billion.

Officials say in a release it’s the first time that the fund, which provides the annual oil-wealth checks to the state’s residents, has topped the $50 billion mark.

The rise was attributed to a strong year for the fund’s $21 billion stock portfolio.

Officials also transferred $1.2 billion of statutory net income to the Permanent Fund Dividend Division for this year’s annual PFD payment. KTUU reports (https://is.gd/lh6sFJ) that’s double what was transferred for last year’s check.

Nearly every single resident of the state in 2013 received a check for $900 for their share of the state’s oil wealth.

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Information from: KTUU-TV, https://www.ktuu.com

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