April 3, 2020
Texas Mutual is proud to announce that our board of directors voted unanimously to distribute $330 million in policyholder dividends two months ahead of schedule. Historically, we’ve paid dividends in June but in response to the uncertain economic climate due to the coronavirus pandemic, we recognized an immediate need to support qualifying policyholders at a time they may need it most. Like many of you, we don't know the economic impact that COVID-19 will have on our business, but we know that we are in a good position to distribute this dividend in this critical time.
More than 57,000 Texas business owners, about 80% of our policyholders, will be receiving a dividend. Over the past 22 years, Texas Mutual has paid dividends to policyholders, bringing the total delivered back to Texas businesses to over $3.1 billion since our first dividend in 1999.
Our dividend program not only allows us to share the success of the company with Texas businesses but provides an economic boost for the state during this critical time. For over 25 years we’ve been committed to providing a stable source of workers’ comp in Texas, protecting businesses, promoting safe work environments and ensuring Texas workers get home safely to their families. This commitment to build a stronger, safer Texas is more important now than it’s ever been.
Watch the video to learn how ownership pays at Texas Mutual.
Our dividend tradition supports policyholders who are keeping their employees safe on the job and choosing Texas Mutual year after year. We’re proud to deliver these dividends to our policyholders who are counting on us during this unprecedented time.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Agents can view dividend information online on April 13 and checks will be mailed to qualifying policyholders on April 20. To learn more about Texas Mutual’s one-of-a-kind dividend program, visit texasmutual.com/ownershippays. You can also visit our How We're Helping Texas page to see how we're supporting communities during this time, including a $2 million donation to 40 nonprofit organizations on the front lines of the COVID-19 efforts.