The LWCC Board of Directors has declared a 2011 dividend of $23.5 million, to be paid to qualifying policyholders in March and April. Once distributed, this will bring the company's cumulative total dividend paid to policyholders over the past nine years to $182,796,520.
"On behalf of the board, I want to express appreciation to all of the LWCC employees for their hard work that has made this dividend possible," says President and CEO Kristin Wall. ?Our dedicated LWCC workforce continues to demonstrate that we are the standard of excellence in workers' compensation."
The company will send out a blast e-mail today to agents notifying them of the dividend amount. In addition a press release publicly announcing the dividend will be disseminated to news media.
About 17,000 policyholders will receive a portion of the dividend. Individual dividend awards are based on a calculation that takes into account policyholders? earned premium and longevity with LWCC over the last five years.