AIDEA board approves $11 million dividend to state general fund

The Alaska Industrial Development and Export Authority Board of Directors approved an $11 million dividend to the State of Alaska Unrestricted General Fund for fiscal year 2025, a $6 million decline from the prior year's $17 million payment.

The board declared the fiscal year 2025 dividend at 42 percent of statutory net income, down from the maximum 50 percent approved for fiscal year 2024.

AIDEA Executive Director Randy Ruaro told legislators the authority "has been able to build up its asset base to roughly $1.7 billion" while returning dividends to the state.

AIDEA is a public corporation that finances economic development projects. Under Alaska Statute 44.88.088, the board may declare a dividend between 25 percent and 50 percent of statutory net income based on financial performance and reserve needs. The dividend is deposited into the state's Unrestricted General Fund as unrestricted revenue, available to fund general government operations without earmarking to a specific program.

The authority reports 28 consecutive years of positive statutory net income since the dividend statute was signed in 1996. The fiscal year 2025 dividend brings AIDEA's total declared dividends to more than $468 million since 1997.