By The Associated Press

(AP) - 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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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