Nearly $10 Million in Dividends Have Been Paid Out Since 1999.
For the 22nd consecutive year, WILMIC is sending out dividend checks to policyholders.
The Board of Directors declared the dividend at its recent spring meeting after reviewing the company’s 2019 financial results. Cash dividends equal to eight percent of annual premiums will be sent to law firms currently insured by Wisconsin Lawyers Mutual. WILMIC has paid out almost $10 million in dividend payments to policyholders since 1999, including approximately $357,000 this year.
“Cash dividends are a mutual company’s way of distributing earnings back to its owners,” said Katja Kunzke, WILMIC President and Chief Executive Officer, pictured right.
“A dividend, true sharing of financial success,” she says, “is what the mutual concept in insurance is all about. Our board firmly believes it is important to return money to the policyholders whenever. possible. Policyholders deserve to share in our success.”
Change in the Timing of Checks
This year, there is a change in the timing of the checks. Because of new administrative procedures, dividend payments are going out when your policy ends, as long as your policy was in effect on March 10 of this year. So, for example, if your policy expires in June, you would receive the dividend in early July. In previous years, all dividend checks went out at the same time, typically in April.