News Summary: Alaskans' oil payout slips to $878

Associated Press Published: September 18, 2012

NORTHERN COMFORT: Alaska state officials said that eligible Alaskans will receive $878 this year from the state's oil savings account.

HEADING SOUTH: That's significantly less than last year's dividend of $1,174, the smallest since 2006. The dividend is calculated on the amount of investment earnings over a five-year average, and includes 2009, when the fund saw its first net loss.

ICING ON THE CAKE: New residents must live in Alaska for a year to benefit from the permanent fund, which was established in 1976 after North Slope oil was discovered. The payouts go to every eligible man, woman and child.

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