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The Montana State Fund announced a $30 million dividend for its workers compensation policyholders, representing a return of about 22% of the premium paid, the fund announced Friday.
The Montana State Fund, the state’s largest workers comp company, insures about 25,000 businesses and organizations in the state. In 2017 and 2018, the fund declared $40 million in dividends each year. With this year’s dividend, the company has paid policyholders $286 million in dividends since 1999, the fund said in a statement.
Montana Gov. Steve Bullock attributed the dividends to companies’ commitment to creating safe workplaces. The state typically has a higher number of workplace accidents and fatalities compared with most others in the nation.
Dividends will be paid by mid-November.
Colorado businesses covered by state-chartered workers compensation insurer Pinnacol Assurance will receive a share of a $50 million dividend by the end of March.