Governor Sean Parnell announced this year’s Permanent Fund Dividend this morning, and it comes out to $1,174. Payouts will occur on October 6th.

PFDs are based on the Alaska Permanent Fund’s average performance over five years. They’ve been on a decline since 2008, when a record amount of $2069 was paid out. Last year, the dividend was $1,281. The year before that, it was $1305.

The number of PFD applicants rose this year by 1 percent. About 676,000 Alaskans applied for the dividend, and so far, 628,000 of those applications have been approved. The total amount of money being paid out is about $760 million.

The number of people participating in the Pick Click Give program has also gone up. Over 3 percent of Alaskans are participating in the program, which allows them to donate part or all of their PFD to non-profits. Last year’s participation rate was 2 percent.