MEMIC announces $18M dividend for 17,000 Maine policyholders
Workers’ compensation insurer MEMIC announced Wednesday it will issue a dividend of $18 million to more than 17,000 policyholders in Maine in November.
The dividend is equal to the Portland-headquartered company’s record dividend amount issued last year, according to the company. It is more than 14% of the premium policyholders paid in 2012, the qualifying year for this dividend declaration.
The payments will be based on the premium amount each employer paid in 2012. Some will total more than $200,000, according to the company.
“This dividend is the direct result of our work together to reduce injuries through safety training and education, and to help workers get well and back to work promptly if they do get injured,” MEMIC President and CEO John T. Leonard said in a statement.
The company, which has issued a dividend for the last 11 years, has returned about $200 million to policyholders since 1998.
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