Today was a lucky day for over a half a million Alaskans as permanent dividends hit the bank accounts of eligible Alaskans.

Over 507,000 deposits were made into accounts of Alaskans today as the $900 dividends went out to to accounts of people who chose to have their money from the state’s oil wealth delivered direct deposit.

The remaining 86,000 checks will soon be mailed to mailboxes of those preferring paper checks.

This year’s dividend is $900, up from last year’s dividend of $878. The dividend amount is calculated on a five-year average. This year’s dividend amount reflected the $2.5 billion loss that took place in 2009, drawing down the amount available for distribution. Next year’s dividend will not reflect that recession year.

Alaskans received the first dividend checks in 1982, that year the check amount was an even $1,000. Two years later, in 1984, Alaskans received only $331, the lowest dividend thus far in the history of the distribution. The dividend amount grew steadily until 2001, when the check amount came out at $1,850 at which time the dividend amount began declining until 2006. In 2008, Alaskans received a whopping $2,069 plus a $1,200 Alaska Resource rebate.

In order to become eligible for a Permanent Fund Dividend, you must have been a resident of the state of Alaska for at least one year prior to filing.