Dividend Declared For 22nd Consecutive Year
Montana State Fund’s (MSF) Board of Directors declared a $20 million dividend to be paid to policyholders in mid-November. This marks the 22nd consecutive year MSF has declared a dividend bringing the total returned to policyholders to $306 million since 1999 ($165 million since 2015).
“Montana State Fund is proud to be able declare a dividend for the 22nd consecutive year. While dividends are not guaranteed, we have been able to consistently declare dividends thanks in part to our partnership with employers and workers who are committed to operating a safe and healthy work environment,” said MSF President and CEO, Laurence Hubbard.
Dividends are the result of better than expected return on investments and fewer than expected losses (accidents). Montana has historically been near the top of the list of highest on-the-job accidents and fatalities. While that ranking is trending in the right direction, there remains room for improvement.
The $20 million dividend will be paid to more than 22,000 Montana employers. The average dividend is approximately $900, representing nearly a 15% return of premium––on average.
”Over the years, Montana State Fund has consistently declared dividends, but this year is different. While today’s news is not related to COVID-19, it is our hope that the timing of this declaration provides some assistance to Montana’s Main Street businesses during these difficult times,” said MSF Board Chairman, Lance Zanto.