The Grand Prize of the Danish Academy, founded in 1961, is the most notable of Denmark's literature prizes and awards. It is awarded by the Danish Academy. Until 1982, it was handed yearly, but since then it has been given every second year. The first years the prize was 50.000 DKK. In 1982 the Cultural Ministry of Denmark increased the prize to 100.000 DKK. From 1992 to 1997 it was 200.000 DKK, in 1998 it was 250.000 DKK and since 2000 it has been 300.000 DKK. The prize is a recognition of a writers work as a whole and not only for one book. Source: Wikipedia (en)